Battery maker turned car company BYD Co. has launched China's first homegrown hybrid vehicle for the retail market, seeking an edge over its crisis-stricken international rivals.
BYD presented the vehicle, known as the F3DM, in a ceremony in the southern city of Shenzhen, where local officials have pledged to buy some of the cars in support of the project.
The vehicle can run up to 100 kilometers (62 miles) on its electric engine, and when it runs low on power shifts to a back up gasoline engine. Its battery can fully charge in nine hours from a regular electrical outlet, or much faster at BYD's own charging stations, the company said in a statement.
The car will sell for 149,800 yuan ($22,000), about the same as many Chinese-made mid-sized cars, it said.
Head to Head:
General Motors Corp.'s own plug-in electric car, the Chevrolet Volt, is due to roll out in late 2010. Toyota Motor Corp. also is pushing to get a plug-in electric vehicle to market in 2010, while Ford Motor Co., says it is five years away from producing them in significant numbers.
