BYD’s e6 goes on sale
October 27, 2011 Category Automotive, Automotive Metals & Minerals
Carmaker BYD Automobile is hoping its new e6 electric car, which went on sale in Shenzhen, will help steer a turnaround in the company’s fortunes. Senior Manager Paul Lin said BYD would see a profit on the car if sales exceeded 10,000 units a year. The model has so far received 1,000 orders in Shenzhen. BYD has been looking for a top seller to replace the dwindling popularity of the F3. Sales of the car dropped for the 12th consecutive month in August, denting the company’s bottom line and the value of its stock. The e6 model has been in use as a taxi in Shenzhen since May last year and sells for CNY369,800. BYD is hoping Hong Kong taxi operators will consider using the e6 to replace at least 300 liquefied petroleum gas (LPG) taxis in the next three years. While electric taxis are expected to cost at least 10 % more than the LPG versions, BYD’s models would help drivers cut their fuel expenses by half. There are about 18,000 taxis in Hong Kong. The carmaker is expected to deliver a right-hand drive, battery-powered single-decker bus prototype to Kowloon Motor Bus next month for road trials. The Hong Kong government has earmarked HKD180 million to help Hong Kong’s four public bus operators buy 36 green vehicles for trial. At HKD3.5 million each, the electric bus costs HKD1 million more than the single-decker diesel buses used in Hong Kong, but could help operators save up to 70% on fuel costs. BYD had earlier forecast that its net profit for the first nine months of this year would drop by 85% to 95% year on year to between CNY121.63 million and CNY364.88 million, the South China Morning Post reports.
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