Buffett’s BYD Threatened by Prius in China Hybrid Shift
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Toyota Motor Corp.’s Prius hybrid is emerging as the likeliest winner from China’s faltering attempt to dictate the future of world motoring.
Policies favoring Warren Buffett-backed BYD Co. and other electric-vehicle makers were meant to help China vie for global leadership in a technology the government expected to replace clunkers that run on gasoline. Except, as Chairman Mao Zedong put it, “seek truth from facts,” and the fact is: EVs flopped.