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BYD Plans Leading Role in Auto Industry
BYD Co. Ltd., the world’s second largest maker of rechargeable batteries
for mobile phones and a newcomer in the auto sector,
plans to become one of China’s major car
manufacturers in 10 years, reports The China Daily.
This private firm took a majority stake in Xi’an
Quinchuan Auto Co., the only state-approved car
producer in northwestern China, in January 2003.
BYD also co-operated with several world-renowned
companies, such as Motorola, Delphi and Autoliv,
to form an international research and development
team in Shanghai for the new company. It sold
more than 20,000 Flyer mini family cars last year
and has designed four models. The 1.6-liter BYD316
will be the first car with the BYD brand. The
firm’s future products will be sedans and
electric cars, not mini cars, says Wang Chuanfu,
chairman.
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