BYD

Samsung will reportedly purchase a 4 percent stake in Chinese electric car maker BYD. According to Reuters, Samsung confirmed late last week that it was in talks about purchasing a holding in Chinese automaker BYD. The Korean company will purchase its stake through a share offering that BYD is using to raise around US$2.4 billion ($3.2 billion) in cash.

China-based BYD, a vehicle and battery manufacturer, has announced that it will establish its North American headquarters in Los Angeles. BYD said it plans to produce electric vehicles and associated components in the US for local consumption by 2011. The announcement was made by BYD Chairman, Wang Chuanfu alongside California Governor, Arnold Schwarzenegger and Los Angeles Mayor, Antionio Villaraigosa.

Chinese car manufacturer BYD (Build Your Dreams) has presented its e6 electric vehicle at the Detroit Motor Show today saying it plans to make the small crossover available for retail sale in the US by late 2010. Powered by BYD’s own recyclable Fe battery, the zero emissions e6 boasts a range of 330 kilometres on a single charge (in cruising mode) with a top speed of e e6 has a top speed of 140km/h. The e6 can accelerate from 0-100km/h in under 14 seconds.