BYD sets sights on streetcar network

Chinese electric-car maker BYD Co Ltd will develop an electric streetcar network in smaller cities within the next five years to further expand its business, but some industry insiders say its plan lacks feasibility.

BYD Chairman and Chief Executive Wang Chuanfu made the announcement during the company's shareholders meeting on Monday.

According to Wang, electric streetcars will be deployed in the country's second-, third- and fourth-tier cities, though he did not elaborate.