China’s BYD expects massive jump in electric-car sales

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The leading electric car maker in China expects its electric-car deliveries to receive quite a boost this year in the home market.

China sees the expansion of electric cars as a vital step for the country to reduce its high pollution levels, a strategy that is aimed at reducing dependency on imported oil and upgrading the auto industry. The government said last year that it would speed up the building of recharging facilities for electric cars, as it plans to have five million green vehicles on the roads by 2020. Even if the sales of alternative-powered cars are well behind targets at this moment, despite financial help granted to automakers and consumers as well, the pace is speeding up.

BYD, China’s leading electric car maker, expects to deliver up to 150,000 units in 2016, up from the 58,000 it sold last year, according to Chairman Wang Chuanfu. He said that the authorities’ efforts are starting to show results and the upward trend will be kept in the coming years. “The Chinese government has more comprehensive policy support on new-energy cars than other governments, leading to the industry’s explosive development last year,” Wang stated. “The rapid growth will remain from 2016 to 2018.”

In 2015, the production and sales of new energy vehicles in China reached 340,471 units and 331,092 units respectively, increasing 3.3 times and 3.4 times year on year. From the total, battery-powered cars sales accounted for 247,482 units, while plug-ins sales hit 83,610 units.

Via Bloomberg