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Electric cars in China

Chinese electric-car prices set to spike on subsidy cuts

Yellow light ahead for industry as BYD and others pass burden to consumers

BYD could hike prices on sport utility vehicles by as much as 30% in response to the government slashing subsidies on electric vehicles.

GUANGZHOU -- China's automakers are set to sharply raise prices on electric cars and other environmentally friendly vehicles starting next week as the government slashes subsidies that had made the country the world's largest market for electrics.

Top player BYD's popular Yuan EV360 sport utility vehicle "costs about 90,000 yuan ($13,000) now, but that [could] rise by 20,000 to 30,000 yuan starting on the 26th," when the new subsidy levels take effect, said a representative at a Guangdong Province auto dealership.

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