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Big Trouble at BYD

Chinese battery-car maker preparing major layoffs, looking for ways to reverse plunging demand.

by on Sep.06, 2011

BYD's dreams have lately turned into nightmares.

The name, BYD, is short for Build Your Dreams, but these days, it’s more like a nightmare for the once-promising Chinese battery-car maker.

With sales this year off by 23%, the maker is planning to lay off as many as 2,600 workers – somewhat ironically, most of them initially coming from its sales and marketing department.  Looking for a way to revive its faltering momentum, the company is exploring the possibility of moving the manufacturer up-market, it says.

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The maker’s problems could cause further delays in its planned entrance into the U.S. market.  Already pushed back by several years, BYD had been hoping to set up a network of stores that would not only handle the maker’s battery-cars and plug-in hybrids but also sell a mix of green technologies ranging from solar chargers to LED light bulbs.