Understanding China, One Blog at a Time

An American in China

Chinese Official Calls China’s E-technology “Hopeless, Garbage”

Posted by w_thames_the_d on August 22, 2011

The Chinese know China and its interesting to hear their perspectives on Chinese tech as compared to the ‘talking heads’ in the west. For instance, “Ministry of Industry and Information Technology squaring off in public. In July, the NDRC’s Li Gang referred to the “hopeless” prospects of the country’s “garbage technology” for electric cars.”- from here
I guess I’d not argue with the guy, as he’s been here much longer than I have. My question is, what was Buffet thinking?

2 Responses to “Chinese Official Calls China’s E-technology “Hopeless, Garbage””

  1. Brewskie said

    I know Warren Buffet’s stake in BYD has taken a bumpy ride, seeing shares decline sharply after a six-fold increase, though I guess shares are still double what he paid for back in ’08. Earnings are down 90% after Beijing dismantled an incentive program.

    John Paulson’s fund got creamed earlier this year after a Chinese reverse merger scam, Sino-Forest, bit his ass. (Obviously, Sino-Forest has nothing to do with e-technology (as far as I know), but it’s worth mentioning.)

    Electric cars likely have a good future, but they still need years’ of technological refinement before they become practical and cost-competitive, plus nations’ grid systems will need serious revamping. China’s not ahead in this game. In fact, we’re still waiting for a worthy export – by this, I mean a car with a decent internal combustion engine – from one of China’s domestic companies to sail to the US, and compete with established titans like Toyota or Honda.

    • wtdevflnt said

      Yeah, I am sure he’ll come out on top but BYD has a shitty image even with insiders here. A few days ago I was talking with some profs who say that BYD makes decent batteries but shoddy cars. As for China, I just read that foreign companies are wising up to this and are now using them mostly for parts suppliers…
      Also where do you plug in cars in China overnight?

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