BYD Co., a battery manufacturer located in Shenzhen, has launched China’s first domestic hybrid vehicle for the retail market. The vehicle will sell for 149,800 yuan (roughly $26,000 Canadian) and BYD hopes it will be the solution when pitted again its international rivals.
“The vehicle can run up to 100 kilometres on its electric engine and can fully charge in nine hours from a regular electrical outlet,” said the company in a press release. While other hybrid technology is entering the market, BYD claims to be the first company to commercialize plug-in hybrid technology, which allows the batteries to be recharged without any special infrastructure.
General Motors Corp.’s own plug-in electric car, the Chevrolet Volt, is due to roll out in late 2010. Toyota Motor Corp. is also 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.
BYD, a private company based in Shenzhen, started out as a maker of rechargeable batteries. In addition to China, it currently holds office in America, Europe, Japan, South Korea, India, Taiwan, and Hong Kong and employs over 130,000 people.