FAW Group outlines aggressive China EV strategy; targeting 15% EV market share in 6 years
3 May 2014
During the recent Beijing motor show last, FAW Group outlined its new energy vehicle strategic plan. By 2020 the automaker intends to have 6 new energy vehicle platforms and 16 vehicle models with mass market capability. FAW plans to take a 15% market share in the EV segment.
FAW also launched 4 new EVs at Auto Beijing 2014: Besturn B50-PHEV, Besturn B50-EV, VITA-EV and Oley-EV. The PHEV can reduce fuel consumption by more than 60% compared to a conventional vehicle, FAW said, while the range of the EV models is between 150-200 km (93-124 miles).
The EVs can be fully charged in 6 hours, or in 30 minutes with fast charging. The price range of the 4 new EVs is from 219,800 to 258,800 yuan (US$35,000 to $41,000).
In an interview with the South China Morning Post, Dai Dali, general manager of FAW’s new energy vehicle unit said that the company hopes to sell several thousand electric vehicles by next year, especially in the most polluted cities.
We will first target cities that are under the greatest pressure to cut air pollution, particularly those that have set limits on new [non-electric] car licences.—Dai Dali
FAW has made about 300 EVs so far on a trial basis.
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