SHANGHAI, May 31 -- Shanghai Automotive Industry Corporation or SAIC Motor Co Ltd, China's largest auto maker, is targeting a 20% market share in China's new energy car market by 2015, Chairman Hu Maoyuan said last week, sources reported.
"At present we are engaged in developing a vehicle with our own core technology, but not the current patented hybrid technology. We expect our market share in the new energy vehicle market to reach around 20% by 2015, just like it is in the traditional vehicle market." Hu said.
The Shanghai-based auto maker earlier said it aimed to roll out its first self-developed hybrid car this year and to start producing a plug-in hybrid car in 2012.
SAIC already has 970 hybrid vehicles in their trial run at the 2010 Shanghai World Expo. It also plans to release the Roewe 750 hybrid later this year. The Roewe 750 car has an energy-saving rate of 20%.
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 expects to sell more than 1.65 million vehicles in the first half of this year, and annual sales are expected to top 3 million units.