BAIC accelerates alternative energy plan: China the biggest alternative fueled vehicle market

Gasgoo.com (Shanghai August 3) – BAIC is accelerating alternative fueled vehicle strategy as the group’s chairman holding that China is becoming the largest market for alternative fueled cars.

At the end of July, Xu Heyi, the chairman of BAIC Group announced a bold prediction that China will become the biggest market for alternative fueled vehicles exceeding America, which reported sales of 117,000 units of alternative fueled vehicles in the year earlier.

Xu Heyi based his prediction on several facts, including the development in personal purchase for alternative cars. Since it is much easier to apply for alternative fueled vehicle license plate than general gasoline, increasingly more Chinese people purchase alternative fueled vehicles. In the previous years, most alternative energy vehicles were purchased by the public servants for business usage.

Thus, BAIC is accelerating its alternative fueled vehicle strategy on the basis of the existing good performance. BAIC sold 6,223 units of alternative fueled vehicle in the first half of the year, exceeding much the annual sales of 5,500 units in 2014. The group’s market share in the pure electric passenger vehicles market reached 22.5%, the biggest among all the automakers in China.

As one of the three pillars business section for BAIC, alternative fueled vehicles will get nearly one third of the research fund and more in the future. The automaker determines to grab the south market in China, which has been taken by BYD, where alternative fueled vehicle regulations and subsidies from the local government can come into force in a short period.

Currently, BAIC has focused much on alternative vehicle sales in Beijing, Shanghai, Guangzhou and Shenzhen, whose alternative fueled vehicles has accounted for nearly half of the overall alternative fueled vehicle market.

BAIC will also launch new alternative fueled vehicles EV 260 later this year, whose largest distance per charge of 260 kilometers. The automaker implements energy-saving and emission-reduction in production procedures, too, through developing photovoltaic power generation with solar power.