SHANGHAI, Apr. 9 -- SAIC Motor Co Ltd<600104>, China's No. 1 auto maker, aims to roll out its first self-developed hybrid car this year and to start producing a plug-in hybrid car in 2012, a senior executive said yesterday, Reuters reported.
The Shanghai-based auto maker also plans to develop environmentally-friendly vehicles with new partners, said Shui Fang, director of the alternative-energy vehicle powertrain department at SAIC Motor's parent company.
SAIC last year said that it would release its Roewe 750 hybrid later this year and that would offer about a thousand clean energy vehicles to support the upcoming 2010 Shanghai World Expo.
In 2012, the Roewe 550 plug-in active hybrid will begin production. It will have a fuel saving rate of up to 50%, the company said.
SAIC's net profit was RMB 6.6 billion in 2009, 904.6% more than a year earlier. Its first-quarter net profit may more than quadruple thanks to strong sales, the auto maker said today.