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BYD to Double EV, Hybrid Production
China's leading electric-car maker BYD Co. Ltd. expects to double its output of EVs and plug-in hybrid vehicles to more than 40,000 units in the second half of 2015, The Nikkei reports.
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China's leading electric-car maker BYD Co. Ltd. expects to double its output of EVs and plug-in hybrid vehicles to more than 40,000 units in the second half of 2015, The Nikkei reports.
The Tokyo-based newspaper, which cites no sources, says BYD's sales of so-called "new-energies" vehicles nearly tripled in the first half of the year. Demand has been stimulated by government tax cuts and other incentives now scheduled to run through 2020.
EVs and plug-ins accounted for 20% of BYD's sales in the first half of the year. The Nikkei says China's demand for such vehicles more than tripled in January-June to 72,700 units, close to the 74,800 units sold there in all of 2014.
BYD currently accounts for about 27% of EV/hybrid sales in China. The company, which says it is running at capacity for new-energies vehicles, plans to introduce two new plug-in SUVs the Song and Yuan later this year.
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