BAIC Unveils Electric Sedan, Announces Investment of $334 Million in EV Factory
By Scott Doggett November 16, 2009
Beijing Automotive Industry Holding Corp. has unveiled its first self-developed electric vehicle, joining domestic rivals to tap potential demand for clean-energy cars.
The zero-emissions model, known as the BE701, is capable of going 120 miles between charges and has a top speed of 100 miles an hour, BAIC said in a statement over the weekend.
The company did not provide a timetable for mass production of the plug-in BE701.
BAIC reps disclosed details of a new clean-energy-vehicle development and manufacturing facility it had just set up, involving total investment of $334 million. The funding would come from the government and other sources, the statement said without elaborating.
The facility, just outside Beijing, will be able to make 50,000 electric vehicles and 100,000 hybrid models, it said but did not specify the timetable.
BAIC, a partner of Daimler AG, meanwhile, has set up a company focused on clean-energy vehicles only. It has said it expects to make 20,000-40,000 vehicles a year starting in 2011.
Other domestic automakers, such as Chery Automobile and BYD Co., are also investing in "green" cars.
Chery unveiled in February its self-made electric car, the S19, which it said was capable of going 75 miles between charges and has a top speed of 75 mph.
BYD Auto, a subsidiary of the Hong Kong-listed rechargeable battery maker, launched its plug-in hybrid car, the F3DM, in China late last year.
Additionally, BYD has announced plans to ship the e6, an all-electric crossover, to the United States next year. That vehicle go reportedly go 250 miles per charge.
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