BYD to begin sales of alternative-fuel models

Chinese automaker BYD Co. has decided to begin retail sales of alternative-fuel vehicles in the domestic market from the end of this month, reports Xinhua’s China Economic Information Service. The China Securities Journal has revealed that BYD’s F3DM plug-in hybrid electric vehicle (PHEV) will be available for private customers in Shenzhen city, Guangdong province from late March. As one of the 13 cities chosen for the launch of alternative-fuel vehicles in China, Shenzhen aims to expand the use of these vehicles to more than 24,000 units by 2012 and to 100,000 units by 2015. An unnamed BYD executive said that the F3DM will be offered at a lower price to retail customers than the 149,800 yuan (US$21,911) currently being charged to institutional buyers. Meanwhile, in related news, BYD Co. has given up a plan to mass produce electric cars in China by the middle of this year, media reports said. The company will only make 100 E6 electric cars to be used as taxis in Shenzhen, where BYD is based. Further development of the vehicles will depend on the success of the taxis. BYD posted overwhelming sales growth and profitability during 2009 thanks to strong demand for its vehicles both in China and overseas. (March 23, 2010)