Buffet and China to Introduce Chinese Electric Car Into The U.S.

Definition: Smoke and Mirrors: Trickery and deception, often in a political context…the obscuring or embellishing of the truth that is employed by spin doctors and the like in order to deceive the general public. 

In 2009 Reuters reported that Chinese Electric Car Company BYD Ltd. was planning to introduce the Chinese version of the Chevy Volt into the U.S. auto market. Buffet who is invested to the tune of $232 million dollars, seems immune to the fact that the Chinese version was developed from stolen GM technology. According to the article:

BYD’s questionable behavior went beyond copying designs, though. According to the consulate, the company also sold some vehicles almost at cost to boost its market share and may have advertised safety ratings for one model it did not have. [1]

The year before  the Wall Street Journal’s Market Watch reported that Buffet’s investment was made in secret. However more importantly Market Watch also reported:

“BYD represents a growth story based on as-yet unproven technologies.” [2]

That should of course bring to the forefront the issue of consumer safety a fact seemingly  not included in any of the routine Chinese business models.

Secondly the car, despite obfuscation to the contrary, will  be built in China though Buffet and the Chinese claim otherwise. That however may be the biggest part of this fraud. The battery for the cars will be made and installed in the U.S. thereby, according to EPA and Federal Trade Commission guidelines, allows the car to be  labeled as being “built in the USA.”

On October 24, 2011 the Huffington Post reported:

Chinese electric car maker BYD Co. opened its North American headquarters on Monday, a move that officials said could bring hundreds of jobs and provide a U.S. hub for sales and research…..

The report went on to quote L.A. Mayor Antonio “Reconquesta” Villaraigosa, who said:

The opening will be “a catalyst that ushers in good jobs, global investment and a more   sustainable future.” [3]

However, the next month Bloomberg.com in an article  reported

“Buffet – Backed Car Maker Arrives In L.A. Late With Fewer Jobs” …. In April 2010 when the deal was announced, BYD said it would open the office by the end of 2010, and have 150 employees by the end of this year. It now has 20 employees in Los Angeles, with plans to reach 30 by year-end and 100 by the end of 2012, according to Micheal Austin, the company’s U.S. vice president.  [4]

Perhaps most egregious of all is the the EPA has given BYD $ 115 million dollars in U.S. taxpayer monies to fund Buffet’s investment. [5]

While the litiney of the excess squandering of U.S. taxpayer monies by the Obama administration continues to spiral out of control with failure after failure, the American public is being rendered destitute to fund alternative energy programs with questionable results.

[1] http://www.reuters.com/article/2011/03/09/us-wiki-buffett-byd-idUSTRE72848X20110309

[2] http://www.marketwatch.com/story/warren-buffett-looks-to-electric-car-in-byd-stake

[3] http://www.huffingtonpost.com/2011/10/24/byd-co-in-los-angeles-chi_n_1028994.html

[4] http://www.bloomberg.com/news/2011-10-23/buffett-s-chinese-car-investment-fails-to-bring-los-angeles-promised-jobs.html

[5] http://www.cleantechinvestor.com/portal/lead-features/9219-transport-revolution-electric-vehicles.html


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Navy and Marine Corps Veteran, B.A. Cum Laude, International Relations - Public Administration, Law Enforcement background, Dignatary - Executive Protection, Threat Assessment - Security Consultant.
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