BYD is a Chinese car and battery firm in Shenzhen. Visitors can take the E6, the firm’s new electric car, for a drive. However, like the firm, the car is sluggish.
BYD was once highly promoted but their first-quarter profits plunged by 90% from a year ago, to $4.3 million. Three years ago, the Chinese government unveiled policies to push sales of all-electric vehicles to 500,000 by 2015 and 5 million by 2020. But barely 8,000 electric cars were sold last year, and most to the government.
Despite financial assistance, electric cars still cost more and there is a lack of recharging stations.
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