| | |  | Changan Steers into Hybrid Car Market | Changan Auto Group, the Chinese partner of Ford Motor and Suzuki Motor will enter the increasingly popular hybrid sector in the world's No.3 vehicle market by offering its own-brand petrol-electric cars.
The nation's fourth-biggest auto group based in Chongqing Municipality told media that it plans to embark on commercial production of hybrid cars in 2008.
Changan Group expects hybrid cars will contribute 10 per cent of its own-brand sales annually by 2010. Hybrid cars twin a conventional engine with an electric motor to improve fuel efficiency and mileage.
Changan will spend 250 million yuan (US$31 million) on hybrid cars as part of its total investment of more than 5 billion yuan (US$620 million) to develop own-brand cars in the years to 2010. Changan began petrol-electric car development in the late 1990s. Changan think hybrid cars would also be available for its overseas expansion.
Changan announced last month that it aims to lift overall sales from 630,000 vehicles in 2005 to 1.5 million units by the end of the decade, with more than half from its own nameplates. Changan hoped overseas sales would account 20 per cent of own-brand sales by then. | |
|
|  |
| |
|
