Thanks n_terra, 2ic and pp - all very useful posts. I can now see why Warren Buffet invested in BYD. They have recently launched the first production PHEV which means they have beaten the US to this important milestone by 1 to 2 years (GM Volt was to be launched in 2010 I believe, assuming they don't go bust!) Not only do they manufacture cars, but they make the Li-ion batteries as well. This will make them a formidable force in the new generation auto industry, assuming their cars hold together... I have read that they are pretty crappily made, but I'm sure this can be addressed.
I can see why the 14 US companies have joined forces to try and compete with the Chinese, Japanese and South Koreans. In particular I have been watching Altair Nano for a while. They make a great Li-Titanate EV battery that recharges in 10 minutes but their share price has been languishing since the credit crunch. Joining forces will be the only way the US companies can compete.
I do have a question about ORE - with 4.5 million in the bank but spending approx 700 K per quarter (last quarter spend, although they are forecasting a 500 K spend this next quarter) then it seems to me that without a cash injection or selling product they will last for just over 18 months (or perhaps 24 months if their spend projection is correct). What happens then? I'm not very familiar with mining economics so apologies if there is an obvious answer to this.
Merry Christmas everyone!
P.S. Apparently BYD stands for "Build Your Dreams". I have been wondering what the hell it stood for for months now, but read it on the web somewhere so it may or may not be true. OK, I've just found the English version of their web site www.byd.com and "Build Your Dreams" is listed there but it may just be a slogan. Re: the web site, check this out...
"F3e is a remarkable example of energy-saving, environment-friendly, technology-driven and trendy automotive manufacturing. Inheriting the design concepts of being Faddy, Faithworthy and Futuramic, it has taken the concept of driver-friendly into full consideration It is also equipped with an on-board charger, which is compatible with a standard electric socket (220V 10A)."
Jinglish is alive and well people! "Faddy, Faithworthy and Futuramic" - I can see they need some English speaking copy-writers on their staff!
Having said that, check out the stats for the (not yet available I assume) F3e... "Top speed is over 150km/h; it takes less than 13.5s to accelerate from 0 to 100km/h; The maximum gradeability (sic) is more than 30%; The electric power consumption is less than 12kwh per 100km; The car can travel over 300km / per charge; Meanwhile, the battery's life-cycle is about 2000 times/ 600,000km for a complete vehicle."
Wow - 30% maximum 'gradeability' - woo hoo! Ahem... does anyone know what this is? Ability to travel up a 30% incline perhaps??
In any case, jokes aside, they are very impressive stats for what looks like a purely electric vehicle. Please sign me up Mr Fu Manchu!
ORE Price at posting:
16.7¢ Sentiment: Hold Disclosure: Held
