China Daily. Chang’an Motor Corp, the Chinese partner of Ford Motor and Suzuki Motor, said it will develop its own hybrid for the Chinese market and have it in production by 2008.
The company expects hybrid cars will contribute 10% of its own-brand sales annually by 2010, according to a report in China Daily.
Chang’an said it 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.
It began petrol-electric car development in the late 1990s.
Chang’an Motor also will target the hybrids for the export market. Last month the company said that it intends to increase 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. It said it hoped overseas sales would account for 25 to 30% of own-brand sales by then.
Toyota began production of the Prius in China at the end of 2005. Maple, the Shanghai-based unit of China’s biggest privately owned carmaker Geely Automobile, also plans to enter the hybrid car sector in 2008 with an initial output of 5,000 to 10,000 units a year. (Earlier post.)