Icebreaking year for new energy automobiles?

Therefore, BYD has moved its strategic focus from the all-electric to the hybrid field, releasing a brand-new hybrid vehicle "Qin" last December which refers to the Qin Dynasty in Chinese history.

As a cost-effective hybrid vehicle, the Qin ranked first in new energy vehicle sales in China in January. To continue its success with the "Qin", BYD is planning to release a follow-up "Dynasty Series" of hybrid models in the future, including a SUV hybrid of "Tang", "Yuan", "Ming" and "Qing". BYD is also planning to produce a sports car, named e9, targeted at private high-end users.

Besides BYD's strategy to sharpen its target market, several other car enterprises are also looking for complementary resources from overseas. Chinese auto maker, Geely Automobile, which completed the takeover of Volvo in 2010, announced its plan to set foot in the new energy vehicle field. Geely also acquired the UK electric car maker, Emerald, in February.

Additionally, the German car-maker Daimler Benz and BYD established have a joint venture enterprise in Shenzhen, and will unveil their first cooperative car model, Denza next Month.

Lin Mi, vice CEO of sales and marketing at Shenzhen BYD Daimler New Technology said that Denza has effectively combined Daimler's century-long auto-making experience with BYD's advantage in battery and electronic control.

In addition, introduced to the world a leading power and automation technology group, ABB's technology in battery. In the following six years, ABB will exclusively provide direct current quick-charging household equipment for our automobiles." Lin Mi further points out that from an industrial perspective, electro vehicles face two major difficulties, the construction of infrastructures and gaining the confidence of consumers in electro vehicles. In his view, this will be a gradual process, as residents need time to become familiar with new energy vehicles.

Lin believes that 2014 marks an important turning point for electric vehicles, which can signficantly change residents' lifestyles and modes of travel. It will also improve the discharge difficulty faced by major cities and alter the industrial layout. "This is a major revolution, not only for vehicle itself, but also for its supporting facilities and represents a brand-new business model," he added.