BYD Song to be next plug-in hybrid model on the market in China
Over the past several years BYD has switched from a fast growing conventional carmaker, to more and more of a fast growing plug-in vehicle maker.
According to Gasgoo.com, alternative energy vehicles profits now represents half of all BYD's cumulative profits from vehicle sales. In 2014, it was around 27%.
To be fair, part of the reason for the gains is that BYD has not invested that much in conventional models in recent years.
"Recently, Chinese domestic carmaker BYD has announced that its net profits in 2015 jumped 552.63% to totally 2.829 billion rmb ."
If BYD is able double its NEVs sales (pure electric and plug-in hybrids) in 2016 as it has suggested (some 120,000-140,000 units), then the company's automotive division will mostly depend on plug-in vehicles and their acceptance.
By the end of 2016, 10 NEV models will be available at BYD.
Wang Liusheng, an industrial expert, said:
“The profits of alternative energy vehicles in BYD will totally exceed that of conventional fuel vehicles with sales revenue around 50 billion to 55 billion rmb.”