BYD shares surge on new energy car prospects

Updated: 2014-02-26 15:01


  Print Mail Large Medium  Small 分享按钮 0

BYD shares surge on new energy car prospects

BYD Qin has an all-electric range of 70 km and a hybrid powertrain that can extend the car's total range to a distance similar to that of a conventional gasoline-powered vehicle. [Photo/China Daily]

BEIJING - Chinese automobile maker BYD soared more than 9 percent Wednesday morning after its new energy cars were listed in Beijing's and Shanghai's programs to encourage the use of green cars.

Shares of the Shenzhen-based company surged soon after market opening on Wednesday and closed the morning session with a 9.25-percent climb, hitting the 10-percent ceiling set by Chinese regulators several times.

On Wednesday, Beijing's Municipal Commission of Economy and Information Technology released a list of companies and products under a government program to encourage the use of new energy cars.

BYD's pure electric E6 appeared on the list, together with a model manufactured by BAIC Motor.

Shanghai's municipal government on Tuesday included Qin, a plug-in electric car model made by BYD, on its list for promoting new energy car use, according to a statement.

The Qin model sells at a market price of around 160,000 yuan, and each buyer will receive a central government subsidy of 33,250 yuan, according to the statement.

BYD shares surge on new energy car prospects
BYD shares surge on new energy car prospects
Top 10 most valuable auto brands  Top 10 moves by carmakers in China