Mexican Media Brands
BYD Targets Aggressive EV Growth
China’s BYD Co. reports a 551% spike in net profits to 2.82 billion yuan ($430 million) on a 40% increase in sales to 77.6 billion yuan, respectively, last year.
#hybrid #economics
Share
China’s BYD Co. reports a 551% spike in net profits to 2.82 billion yuan ($430 million) on a 40% increase in sales to 77.6 billion yuan ($11.9 billion), respectively, last year.
The gains are attributed in part to growing demand for so-called new energy vehicles in China. BYD sold 58,000 electric and plug-in hybrid vehicles in 2015 and expects deliveries to surge to 150,000 units this year.
China's EV/plug-in sales grew more than threefold to 331,000 units in 2015. BYD Chairman Wang Chuanfu predicts the sales uptick to continue through at least 2018, thanks to aggressive government-backed efforts to develop a recharging infrastructure and healthy incentives for consumers to purchase battery-powered models.
China aims to put five million EV/plug-ins on its roads by the end of the decade.
RELATED CONTENT
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
The U.S. Military Finds New Roads: Fuel Cell Powered Pickups
While it seems that fuel efficiency as related to the U.S. federal government is all about light duty vehicles, that’s far from being the case.