Policies
On November 4, 2012, BYD released its new solution for promoting the sales of its pure-electric vehicle e6 and electric bus at a Beijing-based press conference, which is called "Zero vehicle purchase price, Zero costs, Zero emissions" and supported financially by China Development Bank, over 30 Billion RMB ($4.6B USD) now being ready for this financial program. According to the scheme targeting specifically the public transit operators/companies, customers can choose one of three provided optional operating models which could be most suitable to themselves. The three operating models as the following table reads.
| Model | Financing Body | Lease Period | Ownership |
|---|---|---|---|
| Financial Lease | Finance Company | A complete electric vehicle operational life cycle (e.g. 5 years) | During the lease period, the financial organization owns the electric vehicle. The taxi company pays the lease in instalments. After the lease period ends, the taxi company owns the vehicle. |
| Operational Lease | Third party vehicle lease company | A complete electric vehicle operational life cycle (e.g. 5 years) or a shorter period (e.g. 1 year) | During this lease period and after it ends, the vehicle lease company owns the vehicle. The taxi company and the vehicle lease company sign an operational lease contract for the lease. |
| Buyer's Credit | The Taxi Company | The taxi company has ownership of the vehicle. The taxi company pays monthly instalments to the financial institution. |
The policy initiate explained the concept of "ZERO COST" by comparing the five-year fees between a fuel taxi and its all-electric cab in Shenzhen city and after a sequence of calculations, it came to the conclusion that "if the hire car runs for 5 years, and the total saving over 5 years is deducted from the higher cost of the vehicle and the interest on multiple payments, it can save 326,400 RMB. Besides, the company said if enough mileages are done, "the vehicle payment will be entirely offset". BYD also emphasized the "ZERO EMISSION" feature of its renewable-energy vehicles by stating that "an e6 electric taxi saves 14,120 litres of fuel per year, with 32 tonnes fewer CO2 emissions", and "169 million litres of fuel could be saved with CO2 emissions reduced by 38.62 million tonnes per year" if all Chinese taxis would be replaced with its EVs.
Currently, this policy is only eligible for Chinese market.
Read more about this topic: BYD E6
Famous quotes containing the word policies:
“... [Washington] is always an entertaining spectacle. Look at it now. The present President has the name of Roosevelt, marked facial resemblance to Wilson, and no perceptible aversion, to say the least, to many of the policies of Bryan. The New Deal, which at times seems more like a pack of cards thrown helter skelter, some face up, some face down, and then snatched in a free-for-all by the players, than it does like a regular deal, is going on before our interested, if puzzled eyes.”
—Alice Roosevelt Longworth (1884–1980)
“Unfortunately, we cannot rely solely on employers seeing that it is in their self-interest to change the workplace. Since the benefits of family-friendly policies are long-term, they may not be immediately visible or quantifiable; companies tend to look for success in the bottom line. On a deeper level, we are asking those in power to change the rules by which they themselves succeeded and with which they identify.”
—Anne C. Weisberg (20th century)
“We urgently need a debate about the best ways of supporting families in modern America, without blinders that prevent us from seeing the full extent of dependence and interdependence in American life. As long as we pretend that only poor or abnormal families need outside assistance, we will shortchange poor families, overcompensate rich ones, and fail to come up with effective policies for helping families in the middle.”
—Stephanie Coontz (20th century)