China Urged to Subsidize 'New Energy' Vehicles

The head of BYD Co., one of China’s leading makers of electric vehicles, urged the Chinese government to subsidize private purchases of all-electric battery cars and other “new energy” vehicles, saying their widespread adoption in China depends on it.

Speaking at an industry conference Sunday, BYD Chairman Wang Chuanfu said a lack of consumer incentives and subsidies has kept BYD from making a plug-in hybrid car available for private buyers. He warned that a continued lack of government assistance might doom all-electric cars and plug-in hybrids in the marketplace because of their currently high cost.
“We’re at a critical make-or-break juncture in our effort” to make electric vehicles mainstream, Mr. Wang told the conference. To help accelerate an adoption of heavily electrified vehicles “the government needs to play a key role and help us reduce their cost, especially for private buyers.”

Mr. Wang called for rebates, tax cuts, and policies to pave the way for more taxi companies to use electric cabs, among other measures.

Wall Street Journal (through Google News)