SHENZHEN (Reuters) – Chinese automaker BYD Co Ltd (002594.SZ) expects all vehicles in the country, including private vehicles, to be completely electrified by 2030.
Over 20 cities in China will begin building BYD sky rail next year, the company’s president, Wang Chuanfu, told reporters at a briefing in Shenzhen on Thursday.
BYD’s first sky rail project was launched in China’s northwestern city of Yinchuan at the beginning of this month.
He also said China needs to sell 2.5 million vehicles in 2020 to meet its 2020 new energy vehicle target of accumulated sales of up to 5 million units.
Reporting by David Stanway