New battery technology developed by China's electric car company which goes up to 250miles per charge and a 50% charged battery in 10 minutes! Warren Buffet, the world second richest man bought 10% share in the company for $230 million. CLICK LINK TO VIEW VIDEO 1 http://news.bbc.co.uk/2/hi/in_depth/7992180.stm VIDEO 2 http://www.youtube.com/watch?v=IMl657r6DX4 "Warren Buffett takes charge Warren Buffett hasn't just seen the car of the future, he's sitting in the driver's seat. Why he's banking on an obscure Chinese electric car company and a CEO who - no joke - drinks his own battery fluid." http://money.cnn.com/2009/04/13/technology/gunther_electric.fortune/index.htm -------------- China Vies to Be Worlds Leader in Electric Cars By KEITH BRADSHER Published: April 1, 2009 TIANJIN, China Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years, and making it the world leader in electric cars and buses after that. The goal, which radiates from the very top of the Chinese government, suggests that Detroits Big Three, already struggling to stay alive, will face even stiffer foreign competition on the next field of automotive technology than they do today. http://www.nytimes.com/2009/04/02/business/global/02electric.html?fta=y-scooter
Who said Chinese technology is used for a bad cause? Despite the fact of their chemical problems and sterility of things, the scientists in China actually know their stuff. Now, you can see that they are actually putting it to good use, as gasoline and diesel cars are continually affecting our environment. If anyone paid attention to the news, they have a report saying that at the rate people are throwing out garbage internationally, we will have no place to throw our garbage by 2020, anyone see that as a problem? Most dump sites don't even accept garbage anymore. Despite the fact of all the people who talks about how to stop global warming and everything, it's hard to stop, what people should do is to reuse their plastic products. Even recycled products are not good enough right now. China is actually making positive changes to this, by trying to create hybrid/electric cars. Nice article. =)
I agree that having electric or hybrids on the road is a great idea for reduction of air pollutants by vehicles. But there in lies the rub. You have to plug this car in every night in order to charge it up. What is unstated here is that China's primary source of electrical power is still burning coal, and this is despite the power production of energy with the Three Gorges Project. So, driving this car doesn't pollute; plugging it in every night does. People also tend to forget that if Chinese per capita motor vehicle consumption rivaled that of the US, the PRC would have a huge crisis on its hands, both in terms of power usage (whether from coal or fossil fuel) and road congestion. China's population is four times that of the US. If you consider that the US land mass (including Alaska) is only slightly larger than that of China's, imagine if China suddenly had the same ratio of car ownership? It would be similar to the US suddenly having four times as many cars. The US has roughly 6.4 million Kilometers of roadways, compared to 1.9 million for the PRC. If the PRC were to rival per capita US car ownership, the need for road infrastructure would soar. Just imagining the equivalent road necessity for four times the US population would generate a number of 26 million Kilometers of roadway needed for the PRC, or roughly 13 times what it has now. Who is going to pay for this? I know that the OP had posted another thread of Chinese vehicle sales out pacing that of the US and crowing about what a great thing it is, that it demonstrated Chinese industrial and consumer strength, et cetera; however the opinion he expressed fails to account for the fact that car ownership in China is relatively low and as Chinese start to make money they will purchase more and more, and at a faster pace. That is, personal car ownership in China relatively did not exist until recently, so there is a rush to fill the void. But is China buying more and more cars really a good thing? I hardly think so. What is needed for China now, given its massive population, tremendous resource consumption and infrastructure needs, is certainly not more vehicle ownership, but better, modern and reliable mass transit. (for example, the massive ongoing underground 廣州地鐵 transit project, and the planned underground metro link between Shanghai and Suzhou). Since the PRC is starting from a relatively clean slate, it would have much more dramatic impact on national health and on national wealth expenditures if it distinctly avoided trying to be like Americans and making American mistakes. There are plenty of ways to measure national success. Individual vehicle ownership with clogged roads (made from resources and national treasure) crisscrossing the landscape is certainly not high on that list. Frankly, they may do better if they licensed the technology to foreign manufacturers, allowing others to take the inherent risks of transforming a gasoline and diesel culture into an electric one. I'm sure that many would balk at the thought of the power drain each night; imagine if every driver in the US suddenly plugs in their car? LOL talk about sudden power usage spike, and that's before you consider summer air conditioning and the already rolling brown outs. Having one electric car on the road is a green solution; having millions of them on the road creates another sort of crisis. Ultimately, the best solution for all would be better fuel consumption, that is more mileage power per unit fuel used. On another note, the Ferrous (iron) ion battery is going to be really big. Like the video stated, it's greener than lithium but also much less in cost (lithium approx USD$ 300 per pound while iron ore is about USD$100 per Metric Ton, and it's expected to drop even further LOL... Sorry Bolivia... ¹ but Chinese ingenuity just burst your bubble) so a switchover to better, longer lasting ferrous batteries is almost a no brainer. The Chinese company that owns that technology is going to make a killing. So why is Warren Buffet buying 10% of the company? For the electric cars? Nah... he's too smart for that; he just bought 10% of a battery technology that is not only rapid charging but costs much less to make. Now, let's see... hmmm... what uses batteries? Why? Everything! So who needs to make a car? He'll be too busy selling batteries. 1. Bolivia owns half the world's Lithium reserves, and had anticipated making a killing on the Lithium battery market.
China's Chery mulls factory in Brazil: report 4 days ago SAO PAULO (AFP) — Big Chinese automaker Chery is considering open a 700-million-dollar factor in Brazil to tap into the country's growing market, and to learn more about building biofuel-capable engines, Brazil's Gazeta Mercantil daily reported Friday. "Our development center is already working on this project," the head of Chery, Yin Tongyao, said. The plant, which would supply the Latin American market, would be built by 2012 if it goes ahead, he said. "But before starting a factory in Brazil, we have to develop flex-fuel technology, which we still haven't mastered," he said. "Flex-fuel" refers to car motors capable of running on biofuel or gasoline, or a mix of both. Almost all new cars in Brazil -- the world's biggest exporter of ethanol, made from sugarcane -- feature such engines. Chery Brazil chief Luis Curi said the mooted factory would imply an investment of 700 million dollars and would be able to produce between 100,000 and 150,000 cars per year. Yin said his company, China's biggest independent car manufacturer, intended to sell at least one biofuel-ready Chery model in Brazil next year. The company will from June this year start offering four gasoline-only models in the country from June. Two of the models will be imported from neighboring Uruguay, where Chery already has an assembly plant, and two directly from China. The top price in Brazil for a Chery car -- its A3 sedan with all the options -- will be around 44,000 reais (20,000 dollars), Curi said. Chery vice-president Zhou Biren acknowledged to Gazeta Mercantil that the biggest challenge his and other Chinese automakers faced was overcoming the perception that their vehicles were cheap and badly made. "It's hard work, but trust is built step by step. The same thing happened with the Japanese and the Koreans," he said. Chery was China's biggest automobile exporter last year, accounting for more than a quarter of the country's car exports. Chery shipped 135,000 units abroad last year, up 12.6 percent from 2007, according to the China Association of Automobile Manufacturers. www.google.com/hostednews/afp/article/ALeqM5gf7AMKEkhEHfE0HepvV8xCbQ4z4w
Is it really that good? has it been tested?? Because there a lot of things that has to be taken in consideration for example the duration of the battery, maitanance cost, safety. price.
From todays NYT: In a rush? For a quick synopsis, just read the red highlighted lines. This is both good and bad news for the Chinese. On the one hand, the use of hybrid fuels, partial or fully electric cars, has a positive green impact, and China would be able to boast a lead in one aspect of world technology. But on the other hand, a personal vehicle is just that; personal. And China still has about 1.3 BILLION who can get personal. China does not need to replicate the same social phenomenon of having a massive number of cars on its nation's highway (highways that have yet to be fully built). Its best solution for people moving remains mass transit. The best all around picture would be to export this technology, same as what happened with Japan, Taiwan, Hong Kong, and South Korea. I had always envisioned that the "made in (blank)" label was the precursor to industrial greatness. If one remembers Japan, Taiwan, Hong Kong, and the ROK, they all got started making useless tschotkes to sell to the big American consumer; then one day they were making mother boards, automobiles, and ship building. This is the phase where China gets to fully open the door as it steps up from bullshit toy store manufacture to real cutting edge products. Further, another ability that the Chinese have that was not available to any of its predecessors is an almost inexhaustable supply of cheap labor. China, Inc, because of this, can actually keep the cost of labor down, thus preventing national trends of outsourcing that has plagued high tech nations. Engineers and other scientific personnel may not like it, but their pay is going to remain relatively low in comparison to the foreign average.
Invest some money into this company's stock guys. You won't regret it down the road. =) Volkswagen to forge partnership with China's BYD for electric cars news 26 May 2009 Volkswagen, currently the third largest automobile maker in the world and the largest in Europe, is expected to partner with Chinese electric car and battery maker BYD for making hybrids and electric cars run by lithium-ion batteries. Volkswagen chairman Dr Martin Winterkorn and BYD CEO Wang Chuan-Fu, are reported to have signed a memorandum of understanding last week that was announced yesterday, about exploring the possibility of co-operation between the two companies on electric cars using lithium-ion battery technology. In a brief statement released today, Volkswagen said that it has signed a memorandum of understanding with BYD to explore the possibility of collaborating in the field of electric vehicles and batteries. With China being Volkswagen's second-largest market after Germany, Ulrich Hackenberg, head of research and development at Volkswagen, said that companies like BYD could support the German carmaker's expansion into the Chinese market. A statement from Volkswagen quoting Dr Winterkorn, said, "Particularly for the Chinese market, potential partners such as BYD could support us in quickly expanding our activities." If the partnership goes through, then Lower Saxony, Germany-based Volkswagen will be the first major car manufacturer to forge a partnership with the world's second-largest producer of lithium-ion batteries. Volkswagen also said in the statement that it has shown an electric car prototype to BYD, which could possibly indicate that the German carmaker would either build or buy an inexpensive assembly plant in China to build the electric car, which could be later showcased in this year's motor show in Frankfurt. Volkswagen has earlier signed a letter of intent with Sanyo to make battery packs for electric vehicles, but with BYD's expertise in lithium-ion batteries, the European carmaker now wants to make batteries for cars that will run for 120 miles on a single charge. Based in the southern Chinese city of Shenzhen, BYD has risen from humble origins to become the world's biggest producer of rechargeable batteries for cellular handsets and is also a producer of lithium-ion batteries for vehicles as well as manufactures hybrid and electric cars. In October, the BYD sedan F3 became the bestselling sedan in China, beating well-established and well-known brands like the Volkswagen Jetta and Toyota Corolla, although it has only five year's of car manufacturing experience. (View picture gallery) BYD, which is a late entrant in car manufacturing industry, has also manufactured a plug-in electric car, which has a petrol back-up and goes 62 miles on a single charge, thus beating long-established players like GM, Nissan, and Toyota. The company caught the attention of the automotive world last September, when US billionaire investor Warren Buffett through his investment company Berkshire Hathaway acquired 10 per cent of BYD for $230 million. (See: Warren Buffett moves into electric car market with $231 million investment in Chinese firm BYD) Buffett is reported to have initially wanted to acquire a 25-per cent of BYD, but Wang is said to have turned it down, even though he was keen on Buffett as an investor as it would be an endorsement for BYD in the competitive US alternative fuel car market. BYD, started in 1995 in Shenzhen, makes about 80 per cent of Motorola's RAZR handsets. It also makes batteries for iPods and iPhones and low-cost computers. In five years, BYD has become the world's biggest producer of rechargeable batteries for cellular handsets. It then went miles ahead of its rivals by now designing and manufacturing mobile-phone handsets and parts for Nokia, Motorola, Sony Ericsson, and Samsung. One analyst, seeing the stupendous growth of the company in a short span and seeing US car makers and investors wanting to jump on the BYD bandwagon, joked that the initials BYD should be changed from 'Build Your Dreams' to 'Bring Your Dollars.' After Volkswagen's announcement of exploring the possibility of cooperation with BYD for electric cars using lithium-ion battery technology, BYD jumped nearly 5 per cent to a record high today on the Hang Seng Index. http://www.domain-b.com/companies/companies_v/Volkswagen/20090526_volkswagen.html
Did anyone take my sound adivise and loaded up on BYD's stock shares few months back? At the time was at $4.50, today, at EOD $9.04/share, overtaking Ford($7.01/share). Lot of positive news came out since, BYD car sales profited and she will be debuting in the US market in 2011, After the sales of 10% company shares to the world's second rich man, Warren Buffet, he wanted to buy more, a total of 25%, but was rejected. Sept. 15 (Bloomberg) -- BYD Co., the Chinese maker of cars and batteries, is Asia’s best performing stock since Lehman Brothers Holdings Inc.’s collapse a year ago, helped by an HK$1.8 billion ($232 million) investment from Warren Buffett. The company rose 7.3 percent to HK$66.60 in Hong Kong today, extending gains over the past year to 648 percent. That’s the biggest increase in the MSCI AC Asia Pacific Index. Chinese Gamer International Corp., the Taiwanese maker of online games, ranks second with a 563 percent increase. The wider index, tracking 978 stocks, is little changed. BYD has soared since Buffett’s Berkshire Hathaway Inc. agreed to buy a stake in the company the same month that Lehman collapsed amid the global credit crunch. Buffett has made a $1.7 billion paper profit from the deal, as investors replicating his strategy and BYD’s rising car sales push up the share price. BYD’s profit gained 98 percent in first half as it added new models and benefited from government tax cuts designed to revive industrywide demand. The Shenzhen-based company’s sales from the auto business more than doubled in the period to 8.88 billion yuan. The tie-up with Buffett may help boost BYD’s profile overseas and also reassure potential customers, Chief Executive Wang Chuanfu said last year. The automaker started selling the F3DM, the world’s first mass- produced plug-in hybrid car, in December. Berkshire’s MidAmerican Energy Holdings Co. bought 225 million new shares of BYD for HK$8 apiece in July. The Chinese company has said it plans to sell shares on the mainland to help fund development of its auto business. BYD is also China’s biggest maker of rechargeable batteries, supplying power units to mobile-phone makers including Motorola Inc., Nokia OYJ, Samsung Electronics Co. and LG Electronics Inc. For Related News and Information: Top transport news: TRNT <GO> China auto news: TNI CHINA AUT <GO> China auto sales: CNVSPSGR <Index> HCP M <GO>
I hear you buddy. I wish I had known it sooner, right now it's a bit too pricey for me. This company and its unique technology has huge potentials. I am currently hold a Chinese solar company stock, and I gap up on it with a sweet profit. There are many other Chinese stocks in the US stock market are doing well.
About time China brings in something awsome. I'm tired of hearing how the Japanese create this and that in technoligical advances.
For solar I usually trade YGE. Also, I stay away from most US solar companies, half of them maybe put out of business by Chinese solar companies. I don't hold any solar for long though. and I am mostly in cash now, besides my long terms. The market is still pulling back and for the rally to continue the DJI would've had to break 9775 today and continue climbing, since it didnt that means we are searching for a new bottom which should be around 9600 or might even go as low as 9450. I am waiting till next week to get back in.
Did you see the market jumped today! I wish I had cash! The market is behaving crazy. I am holding CSUN since $1.38, had it way back in March, waiting to sell at $8 - $10. It's half way there.
I think we will see more decline over the course of the week, because we haven't consolidated yet. We dropped from DJI 9900 to 9650 and bounced right back to 9800. I would have felt much better about this if we spent a few days around 9600 and climbed gradually back up instead of this steep climb in the morning and then mostly flat for the rest of the day. Anyway this was my chance to make up for getting out too early 2 weeks ago, so I am happy. Expecting more pullbacks in the next few days though, so only kept my long holds. Good luck with your CSUN!
Since your both love BYD so much, here is a little present for you both! Electric car maker BYD's Wang Chuanfu tops China Rich List * Source: Global Times * [10:02 September 29 2009] * Comments http://autos.globaltimes.cn/china/2009-09/473164.html Wang Chuanfu, the founder of Chinese battery and electric car maker BYD, has become China's richest person thanks to US billionaire investor Warren Buffet, according to a list published Monday. Wang, 43, leapt 102 places to top the Hurun Rich List after his fortune increased more than five-fold to $5.1 billion, said Rupert Hoogewerf, founder of the Shanghai-based Hurun Report, which publishes the annual list of the 1,000 richest people in China. Wang's worth grew from $880 million last year after a unit of Buffett's Berkshire Hathaway paid $230 million to buy a 10 percent stake in BYD September. The company's F3 has also become China's bestselling car this year, as BYD pushes beyond its traditional focus on making rechargeable batteries for mobile phones. The company has a market value of HK$140.7 billion ($18.2 billion), according to Bloomberg data. Wang owns 28 percent of battery giant, according to the Hurun Report statement. BYD's shares, which have surged 387 percent this year, fell 7.5 percent to HK$61.85($7.98) in Hong Kong trading yesterday. Zhang Yin, the woman who founded paper-recycling company Nine Dragons Paper and China's richest person in 2006, was in second place. The number of US dollar billionaires in China rose to 130 from 101 last year, Hoogewerf said. There may be a similar number of billionaires not yet found, he added. The full list will be released in October, the report said. Agencies
Holly man! I just felt I got to logon and post this haha! you are absolutely right!! The DJI went down as low as 1.20% this morning! Everything started out looking calmed, but half hour later everyone started selling! I am going to sit out for awhile. thanks for the heads up and please keep me up to date on your next move.
Sorry for replying back to you so late JayChou8...I been busy. I am just waiting for confirmation that DJI found support at 9600, before getting back in. 9600 is a major support level, if it breaks, could be bad news.
I bought some C today. Today was too volatile and I am a slow buyer so ideal situation for me personally would be if the market stays flat for a few days. I think I am going to wait and buy the rest tomorrow. Good luck with your holds.
Just becareful with mortgage companies. If you're planning to invest in this sector, you should use MTG's 3rd Q earnings as a hint to what some of the rest of the sector will announce later in the month. I can only hope for good earnings but the sector is still very weak. I am more pessimistic than optimistic at this point. announce date for MTG: Oct. 12 afternoon 3rd Q earnings. Also, tomorrow has the job report, but I think the market today took that into account already, the data would have to be absolutely suck to drive the market down more. I think solars are starting to look nice and juicy again You should keep an eye on it. YGE which I bought at 10 sold at 14 and have repeated that 3 times now. LOL Good luck!
a4agent, That means good news for my CSUN bro haha! Today I bought SLMX, it's for long term and was tempted to hop on to ABK but last moment decision prompted me not to. I am glad I didn't now that read your last post. I am still on 30% cash will buy the remaining on Monday. I will keep an eye on MTG's 3Q report. Thanks. I hope you made some great buys today.
