BAIC to build electric car base in China

Beijing Automotive Industry Holding (BAIC) is building an electric car manufacturing base in China to strengthen its presence in the fast-emerging alternative-fuel vehicle segment in the country, reports China Daily. Company President Wang Dazong said at the Eighth China Entrepreneur Summit that, “We have just established a new company focusing on the ‘new energy’ vehicles in Beijing, including the whole industry chain, from research and development (R&D) to the final production.” The new plant is being built with a total investment of 2.28 billion yuan (US$333.98 million) and will be capable of producing some 50,000 electric vehicles and 100,000 hybrid vehicles each year. (December 15, 2009)