BYD expects EV sales to double despite decreasing green subsidies
Chinese automaker, BYD, announced a 384% net profit increase during the first two quarters of this year, with sales of new-energy vehicles expected to double to 120,000 units this year. However, analysts have expressed concerns for the continued growth of the renewable-energy automobile market due to the phasing out of subsidies for green energy vehicle customers.

A BYD E6 electric car on display at the New Energy Auto Expo in Nanjing, Jiangsu province, in 2014. The company chairman expects sales of new energy vehicles will double to 120,000 units in 2016. Photo: Reuters