Ｎｅｗ－Ｅｎｅｒｇｙ　Ａｕｔｏｓ：Ｆｒｏｍ　Ｆａｎｔａｓｙ　ｔｏ　Ｒｅａｌｉｔｙ.docVIP

Ｎｅｗ－Ｅｎｅｒｇｙ　Ａｕｔｏｓ：Ｆｒｏｍ　Ｆａｎｔａｓｙ　ｔｏ　Ｒｅａｌｉｔｙ 　　 　　The 2008 Olympic Games turned out to be a showcase for China’s new technologies and products, such as the 598 new-energy automobiles (hybrid, fuel/cell and full-electric vehicles) that served the sporting event, receiving a positive response for their excellent performance. 　　So far approximately 30 Chinese automakers have launched more than 70 models of new-energy sedans and coaches, but all have suffered flat sales. According to the China Association of Automobile Manufacturers, 366 new-energy automobiles were sold in the first half of 2008, a 108 percent rise over the same period of the previous year, but still a paltry number. 　　Many predict a turnaround in the sector in 2009. The escalating global financial crisis will drive customers to be more cost-vigilant, and the new fuel tax, which came into effect on January 1, is believed to be a strong incentive for energy saving products. However, the results are yet to be seen. 　　 　　Domestic New Energy Players 　　 　　In September 2008 the Mid American Energy Holdings Company, a branch of Berkshire Hathaway Inc., bought a 10 percent stake in BYD, a private hi-tech corporation founded in 1995, beefing up the company’s financial muscle and business prestige. 　　In response to inquiries about the size of the investment, worth HK $1.8 billion, BYD President Wang Chuanfu replied bluntly: “Our core technologies are worth hundreds of billons, or one trillion yuan, for they can yield a good variety of innovative products. Boss Warren Buffett is well aware of this.” 　　At the heart of these core technologies is the “BYD Fe battery.” The company actually started as a battery producer, and did not shift to auto manufacturing until 2003. But its battery expertise gave it a sharp edge in car-making. In December 2008 it marketed the world’s first mass produced plug-in hybrid F3DM, priced at a modest RMB 149,800, carving a niche for the company in the clean-energy automobile arena.