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China Restarting EV Subsidies, Says BYD Chairman

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.

byd electric vehicle daimler

Image Credit: Daimler

Details of the new subsidy are as of now unknown, but the previous one amounted to around $9,700 per vehicle, so there’s hope the new one will also be a significant one.

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.

 
 
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Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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