BEIJING, Jan 18, 2010 (SinoCast Daily Business Beat via COMTEX) —
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The E6, a pure electric vehicle (EV) model of BYD Co. Ltd. (SEHK: 1211), has met the laws and regulations of the US market, according to Li Zhuhang, general manager of BYD’s auto export division.
At the end of 2010, the model will start trial marketing in California. The general manager did not tell its price and sales target, but sources guessed that the model would be sold at slightly higher than USD 40,000.
Moreover, the Chinese company intends to export its double-mode EV model, the F6DM, to the US in 2011, whose selling price is a little lower than USD 30,000, previous reports said.
At the 2010 North American International Auto Show (NAIAS), BYD, known as a battery maker and also engaged in automobile production, showed both the E6 and F3DM. Next year, the company will also take part in the NAIAS, with a larger exhibition area, stressed the general manager.
Notably, Warren Buffet, who holds a 10% stake in the Hong Kong-listed company, will give a leg up to the future sale of the BYD E6 in the US, told Wang Jianjun, vice general manager of BYD Auto Sales Co., Ltd.
In late 2009, an export executive at BYD said that the company would possibly regard Los Angeles as its main battlefield first of all, and then extend the E6 distribution to San Francisco. Finally, it will extend its sales network synchronously to Seattle, Chicago, New York, and Boston.
BYD Auto, which is under the aegis of BYD, is known for its products with low displacement, but it has expanded its business into the medium-grade vehicle market these days.
On October 26, 2009, the company’s first medium-grade car model, the G3, hit the market, rivaling some salable counterparts like Excelle, Elantra HDC, Lavida, and Cruze.
BYD Auto aggregately sold 44,000 vehicles in September 2009, surging 88 percent from a year earlier and hitting a record high since its establishment in 2003.
It is reported to have sold less than 100 F3DMs by the end of August 2009, and Morgan Stanley thought that the actual F3DM sales would fall far behind the goal of 3000 to 4000 ones set in early 2009.
However, large Chinese automakers and regional government are still bullish on new energy vehicles. Experts warmed that the blind expansion of new energy vehicles would possibly lead to redundant construction and overcapacity.
In December 2008, BYD Auto unveiled the F3DM EV in Shenzhen, south China, with its selling price fixed at CNY 149,800. Both the battery pack and gasoline engine are installed on the BYD F3DM EV, which is the world’s first EV independent of the professional charge stations, said Wang Chuanfu, president of BYD.
(USD 1 = CNY 6.83)
Source: thebeijingnews.com (January 18, 2010)
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