China’s BYD offers subsidies, discount for some models in December

BEIJING (Reuters) – China’s electric vehicle giant BYD Co Ltd on Friday announced subsidies for some models and a discount of up to 20,000 yuan ($2,803) in December for buyers who are switching from oil to electric cars.

BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported.

($1 = 7.1353 Chinese yuan renminbi)

(Reporting by Brenda Goh and Beijing Newsroom; Editing by Sonali Paul)