BYD is getting in the headlines again and this time its electric buses technology is getting world-wide recognition. The test fleets of electric buses from BYD are running now in the cities literally all over the globe. The horrible air pollution in China and even in Paris will put this form of public transportation in the spotlight again now.
Powered by Lithium: This New BYD Electric Car Is Demolishing The Competition In China ILC.v TNR.v LIT TSLA
Warren Buffett can be right after all with his investment in BYD. After few tough years and exaggerated expectations company is making progress. BYD Electric Buses are making headlines all over the world now and BYD Qin Plug-in Electric Car seems to be on par with its technology, pricing and general expectations for the New Energy Car for its customers. New Energy is the key here - government in China is pushing again very strong towards cleaner economy to beat the horrible air pollution crippling life in all major cities across China and state-level plan to revolutionise and electrify the transportation is well underway. Now the Lithium based technology finally is making its possible.
Tesla Model s is going to be the very big hit among affluent Chinese customers, it will be interesting to see who can compete with Tesla Model E coming in a few years time to the Electric Cars mass market.
We will have to learn the new names like Ganfeng Lithium - China has very quietly built the Lithium Industry over the last few years and now controls the very big part of the world-wide Lithium Materials market. Now these companies have grown up and searching the globe in order to built vertically integrated conglomerates with value chain from raw materials to the Lithium Batteries. International Lithium from Canada has built the portfolio of Lithium Projects spanning the globe from Canada to Ireland and Argentina and is moving forward with development in the partnership with Ganfeng Lithium. Do your own DD and enjoy the ride, hopefully in the Electric Car!
"Kirill Klip, president of International Lithium (TSXV:ILC), views the announcement of Tesla's Gigafactory as a "groundbreaking development."International Lithium In The Survey: Will Tesla's Gigafactory Be Good For Lithium? ILC.v TNR.v LIT
Tesla "brought attention to what Elon Musk has accomplished," Klip told Lithium Investing News. "He showed to everyone that electric cars are not
"Kirill Klip is making some rounds in the industry media with International Lithium these days. Stock has been halted pending the news announcement from the company now. You can get more information on Tesla Gigafactory, Ganfeng Lithium and International Lithium from the presentations below."International Lithium's Strategic Partner, Ganfeng Lithium, Takes Large Stake in Mariana and a $10 million Option on the Blackstairs Projects ILC.v TNR.v LIT
"Mar 19, 2014 (ACCESSWIRE via COMTEX) -- Vancouver, B.C. / ACCESSWIRE / March - 2014 / International Lithium Corp. (the "Company" or "ILC") announces several major transactions with strategic partner GFL International Co., Ltd. ("Ganfeng Lithium" or "GFL")."
BYD's electric buses have set a European record, travelling 325km (202 miles) on a single charge, at the end of which they still had 8% of battery charge remaining.
This exceeds the 310 km record, with 31% of charge remaining, that BYD set last year on a trip between Warsaw and Krakow.
The world record, however, would still appear to be in Malaysia, where Prasarana Transit reported that the buses were getting more than 400 kilometers to a charge!
Two electric buses have been operating in Copenhagen since January, where they have proven they can operate well in the Scandinavian winter.
More than 25 European cities have tried out the BYD electric bus.
In Ankara, Turkey, BYD's electric bus reputedly proved it can provide a 80-90% reduction in operating and maintenance costs over natural gas fueled buses.
Meanwhile, the California Labor Commissioner dropped recent charges that BYD had paid workers less than the state's minimum wages and reduced the company's fine from $99,245 to $37,803.
The company's lawyer, Lanny J Davis, has issued a statement saying:
It is my understanding that BYD welcomes the decision by the California Labor Commissioner to dismiss as unmerited citations alleging that BYD paid below California's minimum wage to five professionals from China who temporarily worked for BYD in the latter half of 2013.
BYD produced substantial documents to the Commissioner's office proving that BYD paid these professionals the equivalent of above the state minimum wage of $8.00 hour. BYD documents prove that these professionals were in fact paid $12-$16 / hour. Therefore, the Commissioner's office has today agreed to dismiss the minimum wage assessment based on the alleged under-minimum-wage payments. All five of these professionals were no longer working for BYD in California by the end of 2013.
However, the Labor Commissioner's position is that BYD should have paid these five employees in U.S. dollars, not in their home currency - Chinese renminbi (RMBs). While BYD disagrees with this position as a matter of law, in the spirit of resolving this matter, BYD has agreed to pay $1,900 for this alleged error. This means that the hearing on the minimum wage issue on calendar for tomorrow, Tuesday, January 28, will no longer be necessary. BYD appreciates the cooperation and communication that led to this resolution.
However the hearing will continue regarding two other alleged technical violations that BYD denies - the alleged omission of two out of nine categories of information on check stubs of all employees; and the alleged denial of rest breaks for 8 employees who were permitted to choose to take one twenty-minute rest break, rather than requiring a split of this break into two ten-minute breaks against the employees' preference."