29 Mar '13, 2pm

Report: China will re-start plug-in vehicle subsidies, says BYD chair

Report: China will re-start plug-in vehicle subsidies, says BYD chair

China, which ended its three-year electric-vehicle subsidy program in December, will resume it as soon as April, Reuters reports, citing BYD chairman Wang Chuanfu. The head of the China-based automaker, whose biggest shareholder is Warren Buffet, didn't disclose details about the subsidy program, but given that it previously amounted to about $9,700 per vehicle, it's likely to be substantial. As it is, Pike Research has predicted that plug-in vehicle sales would surge about 60 percent per year to about 152,000 vehicles for 2017. Additionally, Wang said that the all-electric Denza, which it is developing with Mercedes-Benz parent Daimler and which was first announced about a year ago , will go on sale by June 2014. That's about six months later than previously estimated. Recently, Reuters reported that the Chinese government would enact its first fleetwide fuel-economy mand...

Full article: http://green.autoblog.com/2013/03/29/china-will-start-up-...

Tweets

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subsidies

subsidies

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Check out: @Ford reduces water use in vehicle a...

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