SINGAPORE (Apr 22): Warren Buffet infamously bought into Chinese electric car maker BYD. The investment initially turned sour and many joked that BYD stood for Break Your Dreams. Now, that is no longer the case. Shenzhen has replaced its entire taxi fleet with electric vehicles, most of them manufactured by BYD.
China is heavily committed to cleaning up pollution. Investing in the Chinese clean-energy industry offers many opportunities.
Part of the policy initiative is the rapid phasing-out of petrol- and diesel-driven vehicles and their replacement with electric vehicles. Foreign companies are already expanding into this market and using China as a test bed for the design and development of vehicles that can be exported to Europe, as the same pollution measures are applied by the European Union.