BYD launches F3 globally

Chinese automaker BYD Co. recently launched its automatic transmission F3 model globally. BYD set the price for the new F3 at RMB79,800 (US$11,690.77) and aims to sell 180,000 units in 2009. The Shenzhen-based automaker said it expects the new model to help it gain a bigger market share as the Chinese government encourages the purchase of low-emission cars. China recently issued details of industrial stimulus measures for the automobile sector, encouraging consumers to buy low-emission vehicles and offering some favorable polices on low-emission and green energy car purchases via tax cuts. (February 26, 2009)