If the Chinese Government gets serious about boosting green innovation, then the country's nascent motor industry could be one of the first beneficiaries. Li Hujun, a Beijing-based environmental journalist, reports plans to give rebates of up to $7,330 to buyers of cars powered by biofuels, electricity or hybrid engines. These should "stimulate both domestic consumption and the development of new-energy cars", says Li.rnEmblematic of that industry is BYD Auto. It's based in Shenzhen, site of the country's first Special Economic Zone, and the city that jump-started China's economic ascendance. BYD, which started life as a battery supplier, has now become the world's first companyrnto mass-produce a plug-in hybrid car. The BYD F3DM [right], as it's unimaginatively known, can be charged with a normal household electrical supply. But it does not come cheap: at $22,000, it's around six times China's average annual wage. Not surprisingly, BYD's set its sights on the export market, and is targeting the Copenhagen climate talks in December as a showcase for the F3DM, setting up a network of recharging stations in the Danish capital. Meanwhile, it has already impressed legendary US investor Warren Buffett, who bought a 10% share.
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