Mar. 26, 2010 (China Knowledge) - Well-known Chinese car maker BYD Co Ltd<1211> is set to start selling plug-in hybrid cars to individual buyers in 13 Chinese cities, which will make it the first Chinese auto maker to do so, sources reported.
BYD's F3DM model, which was introduced at the 2008 Geneva Motor Show, is the world's first mass-produced plug-in hybrid compact sedan. It was first offered at RMB 149,800 to Chinese government agencies and corporations on Dec. 15, 2008.
Wang Chuanfu, chairman of BYD, earlier said U.S. sales of the F3DM would begin in 2011.
In 2009, BYD sold only 48 F3DM plug-in vehicles. The auto maker may cut prices to meet its goal of selling 24,000 units in 2012 and 100,000 units per year by the end of 2015.
The Chinese government has been considering offering consumer subsidies for alternative energy vehicles and may spend US$1.4 billion to promote plug-in technologies over the next three years.
BYD sold more than 450,000 vehicles in 2009, becoming the sixth-biggest Chinese auto maker. Its net profit jumped 270% year on year to RMB 3.79 billion last year, boosted by strong automobile business.
BYD's F3DM model, which was introduced at the 2008 Geneva Motor Show, is the world's first mass-produced plug-in hybrid compact sedan. It was first offered at RMB 149,800 to Chinese government agencies and corporations on Dec. 15, 2008.
Wang Chuanfu, chairman of BYD, earlier said U.S. sales of the F3DM would begin in 2011.
In 2009, BYD sold only 48 F3DM plug-in vehicles. The auto maker may cut prices to meet its goal of selling 24,000 units in 2012 and 100,000 units per year by the end of 2015.
The Chinese government has been considering offering consumer subsidies for alternative energy vehicles and may spend US$1.4 billion to promote plug-in technologies over the next three years.
BYD sold more than 450,000 vehicles in 2009, becoming the sixth-biggest Chinese auto maker. Its net profit jumped 270% year on year to RMB 3.79 billion last year, boosted by strong automobile business.
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