China to exempt EVs from license-plate limits in some cities
China's government will ease license-plate and traffic restrictions on electric vehicles and plug-ins in some major cities, the state-owned Xinhua News Agency reported.
In January, the municipality of Beijing imposed tight monthly limits on the number of license plates that could be issued for new vehicles. The city did so to relieve chronic gridlock, and other municipalities are considering similar restrictions.
Xinhua News cited a statement jointly issued by the Ministry of Science and Technology, Ministry of Finance, Ministry of Industry and Information Technology and National Development and Reform Commission.
Following the news, BYD Co.'s stock surged 16 percent. BYD, which is part-owned by billionaire investor Warren Buffett, sells the e6 electric car.
