The Chinese automaker says it will more than quadruple light-duty plug-in vehicle sales next year, as demand will be fueled by a combination of government incentives and rising gas prices, the Wall Street Journal reports.
BYD, which sold about 1,700 light-duty plug-in vehicles in 2012, hopes to boost that number to about 8,000 this year. Electric bus sales are supposed to almost triple from 700 to about 2,000. The company should benefit from fleet sales as companies look to reduce refueling costs, as well as subsidies in China that can reach as high as $19,000 US (roughly) per vehicle.
Since December, BYD has won contracts to supply 49 of its E6 EVs to the city of Bogota, Colombia, for its taxi fleet, as well as for 500 E6s that will be used by the police force in Shenzhen, China. Last October, BYD reached an agreement with Greentomatocars to supply 50 E6s to that company's London taxi fleet. That's not quite 8,000, but a little here and a little there adds up.