Chinese automotive companies have long aspired to build vehicles for the U.S. electric vehicle (EV) market, without much progress. However, recent developments indicate that Made in China could be stamped on cars stateside before long.
Chinese automakers, have all made investments in establishing or partnering with U.S. entities with the goal of opening China�s formidable manufacturing resources to America. Geely, which has been the slowest among the three to approach the U.S. market, purchased Emerald Technologies in February. The company, a startup developing electric vans and taxis, has offices in the United Kingdom and Missouri. It will receive up to $200 million during the next 5 years to grow its business.
BYD was the first Chinese automaker to target the U.S. market and had announced its intention to sell EVs when it established a presence in California back in 2010, but the company has yet to deliver passenger vehicles. The latest target date for EVs in the United States from Warren Buffett-backed BYD is late 2015. Until then, the company is focused on selling electric buses using its battery packs in China, California, Canada, and Spain.
Wanxiang has been the biggest spender from China on U.S. EV assets: the company picked up the bankrupt pieces of battery maker A123 Systems and of Fisker Automotive for pennies on the dollar. Wanxiang recently said it would resume production of the aborted Fisker Karma (perhaps both as a gas car and plug-in electric vehicle) by the end of 2015, as well as complete the development of the Atlantic, the second EV promised by defunct Fisker. It would not be surprising to see more acquisitions of EV-related technology firms from Wanxiang in the United States in the future.
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