Cars

Published on April 1st, 2016 | by James Ayre

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BYD Expects To Triple Its EV Sales This Year

April 1st, 2016 by  

Originally published on EV Obsession.

The leading Chinese electric vehicle manufacturer, BYD Company, is expecting to nearly triple its electric vehicle sales in China this year, according to the company’s Chairman Wang Chuanfu.

The company is apparently expecting to sell as many as 150,000 electric vehicles (EVs) in China in 2016 — up from around 58,000 in 2015 — according to the comments made by the chairman at a recent briefing in Hong Kong.

BYD Tang

The Chairman also noted that: “The Chinese government has more comprehensive policy support on new-energy cars (all-electrics and plug-in hybrids) than other governments, leading to the industry’s explosive development last year. The rapid growth will remain from 2016 to 2018.”

Bloomberg provides more:

The company surged the most in more than five months in intraday trading in Hong Kong after predicting first-quarter profit may rise more than 50% from a year earlier.

China has stepped up the building of charging infrastructure and rolled out incentives to encourage automakers and consumers to switch to electric vehicles as part of a broader initiative to mitigate the toll that rising car ownership is exacting on the environment. Industrywide EV sales surged more than threefold to 331,000 units last year as the government pushes to reach its target of having five million of the vehicles on its roads by the end of the decade.

The prediction made by the Chairman is quite believable, as BYD essentially tripled its EV sales last year as well (2015 sales as compared to 2014), so a repeat occurrence seems reasonable.

The company’s full-year net income actually rose nearly seven-fold last year as well, so the company is clearly currently in an expansionary phase.

Reprinted with permission.


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About the Author

'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. You can follow his work on Google+.



  • Martin

    What are total car sales in China? Looking for the percentage of total sales and EV sales and curious how they compare to the US.
    US had EV sales of about 115.000 units (EV and PHEV I think) with about one third of the population of China.

  • Jamset

    What HVDC plug do these cars have?

    • Jasmin

      Chinese built EVs use the Chinese standard, GB/T. It uses the same CAN protocol standard for the electronics as Chademo, but it’s physically different. I *think* BYD and the other Chinese manufacturers use Chademo on their export models though – the differences are minor enough it doesn’t take a lot of re-engineering.

      • Jamset

        Are there many CHAdeMO charging stations in China?

        There are in Europe, USA, Japan, Sri Lanka.

        • Jasmin

          Not as far as I’m aware. The Chinese government has been pushing for domestic manufacturers (and foreign ones selling EVs in China) to standardize on GB/T for the domestic market, and has invested heavily in the charging network. As a result I doubt (though I don’t know for sure) that other standards have gained that much traction. I’m in the UK, and here Chademo is ubiquitous. Even though the government officially favors CCS, most new chargers are either dual (Chademo/CCS) or even triple (Chademo/CCS/Rapid-AC) format.

          • Jamset

            As long as Europe and China do not ban CHAdeMO.

            It is a pure DC plug, so maybe it can allow 200kW charging in the future.

          • Jasmin

            Europe hasn’t made any moves to ban it, and given the popularity of Chademo EVs here I think that’s extremely unlikely to change. Nissan has an alliance with Renault, one of the largest companies in France, and a major EV builder itself, and that the semi-nationalised Peugeot-Citroen actually sells Chademo equipped EVs itself (albeit built by Mitsubishi).

          • Jamset

            There was talk of EU banning it.

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