It is finally happening.
For years, Chinese automakers have been dying to enter the US market. Both domestic and other foreign automakers obviously didn’t want this and American car buyers were, and likely will remain, skeptical about Chinese car build quality and safety. But after much effort, China’s BYD (Build Your Dreams) is planning to launch four models in 2015. In 2010, BYD, a company backed by Warren Buffet’s Berkshire Hathway Inc., first attempted to enter the US market without success.
Over the next three years, BYD’s billionaire chairman and founder, Wang Chuanfu, completed a major reorganization of his company by cutting dealerships and making several other changes. The result is a healthier and more confident BYD, but will this be enough to take on the uber competitive US car market? Chinese cars don’t exactly sound good to many Americans, but BYD is hoping to follow the example set by Japanese and South Korean brands. "We don’t want to compete on price any more, but on quality and innovation," stated Stella Li, BYD’s vice president of US business.