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News Link • China

China sold 66,000 electric cars in October over quadruple the US level

• Next Big Future

The little EV is a success with a trendy design, improved specs (now with 200 km of range), and competitive pricing (~$22,000).

China's electric vehicle sales have now passed 2% of all car sales. The US electric cars are at 1% of overall car sales.

China electric car company BYD plans to increase sales by 10X by 2025 through expansion and diversification

BYD chairman Wang Chuanfu has drawn up an ambitious plan for the Chinese electric carmaker, envisioning the creation of a new-energy corporate giant with sales of a trillion yuan (US$151 billion) by 2025, nearly 10 times its revenue last year.

BYD will conduct a drastic restructuring to form a new industry chain, a move designed to chase rapid growth in the coming eight years.

BYD's different divisions including passenger vehicle, commercial vehicle, battery and electronics will be developed into various "clusters of businesses," he added. "In 2025, our aim is to achieve sales of 1 trillion yuan."

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