Shenzhen (China) - An article yesterday on the Wall Street Journal conveys and interesting point. Trying to break into the car maker business today is most likely a losing game. However, in the area of the electric car the field appears to be level as no major player has a significant advantage.
The founder of a Chinese company called BYD Co, that makes batteries and cars thinks he has a shot at entering the market. Wang Chuanfu's company has begun selling in China a plug-in electric hybrid car called F3DM. It plugs into a home outlet and comes with a small gasoline engine which will recharge the battery on the go - similar to Volt.
BYD will be introducing their F3DM car to the U.S. and Europe in 2010, making it a rival offering for other battery cars.
Mr. Wang said in the WSJ interview, "It's almost hopeless for a latecomer like us to compete with GM and other established auto makers with a century of experience in gasoline engines. With electric vehicles, we're all at the same starting line."
In related news, Michigan Governor Jennifer Granholm is requesting that the federal government invest more into research and development for auto-related alternative energy technologies, such as batteries for electric cars. She made her case on this morning's CNBC "Squawk Box" as well as MSNBC's "Morning Joe" TV shows. Her news comes during the third day of the Detroit-based North American International Auto Show, which has drawn in journalists from around the world.
See Wall Street Journal.