The BYD Group is just considering their available resources for any possible tie ups with other car makers. BYD Auto utilized their expertise to come up with electric vehicles aiming to compete with the production of General Motors and Toyota’s plug-in vehicle hybrids.

The company came to the spotlight after the September endorsement of billionaire Warren Buffett. The company of Buffett, Berkshire Hathaway Inc. through MidAmerican Energy bought a 10% share of BYD worth $230 million.

The BYD is developing F60M which is a plug-in hybrid car due for release in Europe and the United States in 2011. The initial sales of these vehicles are targeting fleet services for the government, corporations, or utility companies.

BYD came up with the Dual Mode F3 and closed a deal with the China Construction Bank and the Shenzen local government for 50 units. The Dual Mode is also known as the F3DM which is designed with a gasoline engine to serve as back up.

The F3DM is currently being marketed in around 14 Chinese cities selling for $22000. The company is planning to expand its sales. BYD aims mass production of this car by mid of 2009.

The second half of 2009, may also witness the launching of BYD’s fully electric car in China.

The ferrous-iron batteries that will run these cars are half the cost of the lithium iron batteries which are commonly considered for electric green cars. The ferrous iron batteries are also more durable than the lithium-iron.