BYD of China builds the world’s first plug-in hybrid car for mass production. Not even Toyota has released their plug-in Prius for mass production yet.
I like to see this innovation that is happening in China. Here’s a company with a dream. (Their name actually stands for Build Your Dream). They take it to the market and find the right investors, like Warren Buffet. There’s no over-regulation to stifle this innovation and creativity. They create a product that could help shape the new market.
If we think back to what has happened to the electric car industry in Canada, it has been stifled at every turn and regulations have made Canadian-designed and produced vehicles virtually illegal to drive on most Canadian roads. That’s just wrong. Canadian government regulations have not kept up with the times and has been rigid and limiting when it should be open and flexible.
Kudos to BYD. I look forward to seeing what else may come out from that company, especially with Warren Buffett taking a keen interest behind-the-scenes of this young company.