F3DM dual–mode electric vehicles, which can be driven in both pure electric and hybrid modes, entered the market at the end of 2008. The electric cars are capable of charging at professional stations, household plug-in charging and fuel supplies. Under the EV mode, the driving cost is only one-fourth of the same class cars.
However, the price nearly doubled the price of cars that run on conventional fuel. BYD dare not to open sales to the personal buyers without the subsidies from government. By now, BYD has sold more than 100 electric cars to governments, banks and other institutions.
The relevant persons from BYD released that the latest edition of F3DM opening sales to private buyers would be sold in Shenzhen, Guangdong Province firstly. It is known that the new version of F3DM integrates the advantages of lithium ion batteries, energy and electronics and especially further enhances the low-carbon and environmental-friendly characters. Industry insiders expect the price of the new electric car to be lower than ever.
As one of the first 13 cities to implement energy-saving and new electric vehicles, Shenzhen plans to have 24,000 such electric cars on the road in 2012 and 100,000 electric cars in 2015.
Some insiders expect that the local government in Shenzhen will not rule out offering subsidies for residents buying BYD’s F3DM, so as to improve the development of electric cars.
During the Two Sessions in 2010, Li Yizhong, minister of Information and Industrial Technology, said that the ministry was discussing subsidies for new electric vehicles amounting to tens of thousand yuan with the Ministry of Finance. That gives more confidence for Shenzhen government and BYD to grab the opportunity of electric vehicles.
Source: People’s Daily Online, english.peopledaily.com.cn