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BYD lures China’s e-taxi operators with financing incentive

BEIJING — Taxi operators in China interested in electrifying their fleet can pay the full price of BYD’s e6 in installments, saving them the hefty upfront full payment they have to make for a gasoline-powered car, the Warren Buffett-backed Chinese carmaker said on Sunday.

They can sign a rental agreement with financing firm or a third party taxi operator which own e6 and claim ownership of the car after the full payment is made, it said in a statement.

Taxi operators can also buy e6 through bank credit with zero down-payment, BYD said, adding China Development Bank is the strategic financing partner for the new initiative.

Each e6 purchased through such arrangements would save a taxi operator 326,477 yuan in five years because of cheaper electricity prices, even though the e6 costs 180,000 yuan after government subsidies compared with 10,000 yuan for a gasoline car, it said.

BYD, which also makes the electric bus K9 and the plug-in hybrid F3DM, is seen as a domestic pioneer in green auto technology in China.


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