BEIJING, July 27 -- Chery Automobile Co Ltd, the largest private automaker in China, plans to commercialize its first plug-in electric car model S18 in the second half of this year, sources reported yesterday.
The car model, which was stimulated by the Chinese government subsidy project and was introduced in February 2009, can travel 150 kilometers one time with fully charged batteries and can be recharged from standard household outlets. The car will cost RMB 130,000 per unit.
The company aims to annually sell up to 30,000 units of electric cars within four years, said a senior officer in the firm.
China has increased investments in new-energy vehicles, as to reduce pollution and boost global competitiveness. The new subsidies will not only prompt automakers to manufacture more fuel-efficient vehicles but also promote technology and reduce emissions, said analysts.