In a press release issued this week by BYD, the company outlined a far less dramatic plan for its electric vehicle going forward. Rather than producing the E6 on a grand scale, the company will instead produce 100 models to be used as taxis in Shenzhen, the company's home city. Further development is expected to be dependant on the success of this program.

In abandoning its plans for a mass produced electric car in China, the company will likely have to lean on other methods of turning profit. Expect BYD to focus more heavily on its F3 model. While not as revolutionary as a fully electric automobile, this sedan has risen to become one of the most popular cars in China.

Electric cars will be a growing part of the automobile market, and with models like the E6, BYD is likely to be a frontrunner when the trend takes off. Until then, the company can ensure that it will continue to provide investors with strong, stable returns by focusing on more tried and true methods of making money in the present.

Now that BYD has abandoned its bold plan to mass produce an electric car in 2010, does this company still have the same appeal? Feel free to leave a comment below.

-- Written by Don Dion in Williamstown, Mass.
At the time of publication, Dion did not have a position in any of the stocks mentioned.

Don Dion is president and founder of Dion Money Management, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.

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