Published on March 31st, 2013 | by James Ayre0
China Restarting EV Subsidies, Says BYD Chairman
March 31st, 2013 by James Ayre
China’s latest electric vehicle subsidy program recently ended, back in December, but now it looks like a new program to replace is already on the fast track to approval. BYD chairman Wang Chuanfu was quoted as saying that a new program could be implemented as soon as April.
The BYD chairman also stated that the Denza EV, which is being developed cooperatively with Mercedes-Benz parent Daimler, will be released by June 2014, which is around 6 months later than had been previously estimated.
This news of a new nationwide EV subsidy program is coming on the heels of Beijing’s announcement of its own £13,000 EV subsidy, and the announcement of strict country-wide fuel economy standards.
Recently, Reuters reported that the Chinese government would enact its first fleetwide fuel-economy mandate for new vehicles, which were projected to be about 34 miles per gallon by 2014 and about 47 mpg by the end of the decade.