BYD to raise EV production volumes

Chinese automaker BYD Co. intends to accelerate production of its electric vehicles (EVs) beyond the initially planned target of 1,000 units for 2010 in the wake of the recently introduced government subsidy program. Wang Janjun, deputy general manager of BYD Sales, told Xinhua news agency that the company is looking to gain maximum benefits from the government incentives. The 12 billion-yuan (US$1.8 billion) subsidy program involves a subsidy of 60,000 yuan (US$8,798) on EVs, such as the BYD e6, and up to 50,000 yuan (US$7,332) on plug-in hybrid vehicles (PHEVs), such as the BYD F3DM, across five Chinese cities through to 2012. (June 14, 2010)