9.8BYD Chairman urges gov't to subsidize new energy vehicles

BYD Chairman urges gov't to subsidize new energy vehicles

 

http://autonews.gasgoo.com/auto-news/1012063/BYD-Chairman-urges-gov-t-to-sub
sidize-new-energy-vehicles.html

 

Shanghai, September 8 (Gasgoo.com) The chairman of BYD Co urged the Chinese
government to subsidize private purchases of all-electric battery cars and
other "new energy" vehicles, the Wall Street Journal (WSJ) reports on
Tuesday. 

 

Mr Wang Chuanfu said at an industry conference on Sunday that the Chinese
automotive industry is "at a critical make-or-break juncture in our effort"
to mass-produce electric and plug-in hybrid vehicles, and "the government
needs to play a key role and help us reduce their cost, especially for
private buyers" so as to fuel demand. 

 

He added that a lack of consumer incentives and subsidies has kept BYD from
making a plug-in hybrid car available for private buyers. 

 

Mr. Wang also called for rebates, tax cuts, and policies to pave the way for
more taxi companies to use electric cabs, among other measures. 

 

Wan Gang, the minister of science and technology, expressed his support on
the matter, stating that China has adequate deposits of lithium and other
rare-earth metals and therefore must encourage research and development
(R&D) of alternative-fuel technologies as "a new source of growth" for the
local auto industry.

 

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