18 October 2018

BYD gets a good start in Taiwan

BYD Co. Ltd. (01211.HK) has received a purchase order for more than 1,500 e6 taxi units from Taiwan, perhaps the biggest order for its pure-electric vehicles outside its home turf of Shenzhen.

Due to legal constraints, the mainland carmaker cannot export its vehicles directly to Taiwan, so it set up a joint venture to assemble the electric cars on the island, Commercial Times reported.

E6 is a BYD masterpiece that can run up to 300 kilometers on a single charge. According to the Taiwanese newspaper, a taxi driver can save more than NT$10,000 (US$341) on fuel by switching to e6.

Although the unit price of an e6 is three times that of a gasoline-fueled vehicle, BYD is marketing the e-taxi through financial leasing to lower the upfront investment of fleet buyers.

Since Beijing renewed the subsidy scheme for fuel-efficient cars and modified the program by handing out the subsidies directly to eligible carmakers, the stock of BYD has been on a strong run. The share price has gained a fifth over the past month.

– Contact the writer at [email protected]




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