BYD talks to western carmakers

Fledgling automaker BYD Co. is in talks to supply batteries to carmakers in Europe and the U.S.BYD officials declined to identify the companies the Chinese company is negotiating with, but revealed that the company is negotiating with one U.S. auto maker and two in Europe about supplying lithium-ion batteries it produces in Shenzhen, where BYD is based. Companies including Toyota Motor Corp., General Motors Corp. and Nissan Motor Co. have chosen battery suppliers for their electric cars, but others are still talking to various companies or have not announced who their suppliers are. Last year, a company controlled by investor Warren Buffett invested US$230 million in BYD, chiefly because of BYD’s cost-effective technology. (March 31, 2009)