BYD hybrid for sale in Shanghai
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Electric car producer BYD Co is to sell its F3DM hybrid vehicle to individual buyers in Shanghai before the end of the month.
BYD, backed by US billionaire Warren Buffett, may also raise the annual output of F3DM from 1,000 units this year in anticipation that the government's stimulus packages will boost sales, said company official Xu An.
China plans to hand out 10 billion yuan (US$1.47 billion) to speed up commercialization of new energy vehicles with the aim of having 500,000 green cars on the roads by 2012. Subsidies up to 60,000 yuan will be granted for new energy vehicles.
The F3DM, the world's first mass produced plug-in hybrid, promises a battery-only range of 60 kilometers on a single charge. The battery can be fully charged in seven hours at a household outlet and can be charged to 50 percent of capacity in 10 minutes at a professional one.
The car will sell for 169,800 yuan and qualifies for a 50,000 yuan subsidy from central government. Industry insiders said the local government may offer additional subsidies of around 30,000 yuan or offer preferential car license policies to support the development of new energy cars.
Previously, the F3DM was mainly supplied to corporate clients.
BYD's e6 sedan, its first pure electric car, will make its debut in Shenzhen in September.
General Motors is importing its Volt plug-in hybrid into China next year while SAIC Motor Corp will market its first electric car in 2012.
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