Would you buy a Chinese car? Chinese automakers sure hope so. China buys a lot of cars, sales in the country surpassed 20 million in 2013, but its domestic car industry is relatively new. Yet at least one company hopes to make a mark in one of the toughest export markets around: the good ‘ole U.S. of A.
BYD Co., the Chinese automaker backed by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), said Chinese cars are poised to begin hitting U.S. showrooms by next year. BYD plans to introduce about four models for its U.S. debut at the end of 2015, said Stella Li, the senior vice president in charge of the company’s U.S. business, in an interview last week in Shenzhen, China. Though BYD wasn’t ready when it earlier sought to enter the U.S. car market in 2010, the company is more prepared this time, she said.