Nissan Leaf Goes To China
International Business Times
Published Sep 11, 2014 10:29AM ET
Nissan Leaf Goes To China
By Angelo Young - After unveiling the Chinese version of the world’s best-selling electric car earlier this year, Nissan and its Chinese partner on Wednesday launched the Venucia e30 in China, becoming the second foreign automaker after Tesla Motors Inc. NASDAQ:TSLA to penetrate the Asian giant’s electric vehicle market. The Chinese government recently began offering incentives to encourage wider embrace of EVs as it attempts to reduce harmful emissions in its smog-choked cities, and the domestically manufactured Venucia e30 could benefit from this policy.
Nissan says the Venucia e30, which is based on the Nissan Leaf platform, has a starting price of 267,800 yuan (about $43,700) and will be made at a factory in the southern industrial city of Guangzhou where Nissan operates a plant with its domestic partner Dongfeng Motor Co., China’s second-largest car company. The company claims the electric Venucia (known in China as the “Qi Chen”) gets nearly 109 mpc (miles per charge).
In July, Xinhua News agency reported that five Chinese government departments and ministries announced 30 percent of all new government-vehicle purchases between 2014 and 2016 would be electric cars. China is also waiving a 10 percent sales tax on EV purchases.
While domestic EV makers like BYD Auto Co. Ltd. stand to benefit the most from the policy, Nissan Motor Co. Ltd. TYO:7201 is hoping its relationship with Dongfeng and the popularity of the Leaf in the niche global EV market will help it grab 20 percent of the Chinese electric car market by 2018, according to Bloomberg.
Germany’s Center for Solar Energy and Hydrogen Research (ZSW) said in March that global EV sales doubled last year, to about 400,000 and that by 2016 there would be a million of the zero-exhaust vehicles on the world’s roads. About a fourth of all EVs (100,000) are Nissan Leafs as of the start of 2014. The data, however, include plug-in hybrid vehicles like the Chevy Volt and Toyota Prius, which have internal combustion engines. The Volt and Prius make up about 100,000 of the current “zero-emission” vehicles in the global consumer fleet, a sliver of the billions of the world’s new and used fuel-burning cars.
Get The News You Want
If EVs are going to make a dent in vehicular exhaust emissions, they will need to replace gas-burners at a much faster rate.
Written By: International Business Times
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.