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BYD shares in China and Hong Kong recover following exploding taxi incident


Gasgoo.com (Shanghai May 30) – BYD’s stocks made a strong recovery following an official statement from the manufacturer on Tuesday that its E6 electric car met government crash test standards, the Beijing Times reported today. The manufacturer made headlines following an incident last Saturday where an E6 electric taxi in Shenzhen caught fire after colliding with another car, killing a total of three people.

There were concerns that the E6’s lithium ion battery triggered the explosion, which, if proven true, would have serious implications for several of the manufacturer’s products. At the time, BYD refused to make an official comment on the incident, saying it was waiting for the official police investigation to conclude. However, the manufacturer’s statement today seems to have put those worries to rest. According to the statement, the E6’s battery did not ignite even after being severely deformed during government conducted crash tests
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