Shenzhen to buy new energy vehicles

BYD Co Ltd, an electric and battery car maker, might increase its revenue significantly in the coming years, benefiting from the decision by Shenzhen municipal government's to buy a large number of new energy vehicles, stcn.com reported.

"The company is expected to increase its revenue by 36.5 billion yuan ($5.86 billion) in the next three to five years, which is 74.75 percent of its revenue in 2011," an analyst surnamed Ai from a Shanghai-based securities company told the website.

The number of large- and medium-sized buses in Shenzhen stands at about 16,000, and the city has about 15,000 taxis. About 3,400 are new-energy vehicles, including 2,050 hybrid and electric buses, and more than 300 electric taxis. According to the Shenzhen development and reform commission, the numbers are set to rise to 8,000 and 15,000 for green buses and taxis, respectively, in three to five years.

This year, the Shenzhen municipal government plans to buy 1,000 green buses and 500 electric taxis. Four hundred buses will be made by Wuzhoulong Motors, and the rest by BYD.

The 600 BYD K9 electric buses will be delivered in December, while the 500 BYD E6 vehicles are in the process of being delivered, BYD said.

The 600 K9 buses will bring sales revenue of 1.2 billion yuan, while the 500 E6 vehicles are estimated to generate revenue of 150 million yuan.