Reuters. BYD will begin selling plug-in hybrid electric vehicles outside of China in 2011 rather than 2010, according to BYD chairman Wang Chuan Fu.
BYD, which is 10 percent owned by US investor Warren Buffett, originally aimed to sell the hybrid cars abroad in 2010 but Wang would not give any reasons for the delay. The firm officially launched the F3DM on Monday and said it will sell a total of 50 units of the hybrid cars to the Shenzhen municipal government and China Construction Bank.
The F3DM plug-in hybrid (earlier post) is available in 14 Chinese cities at 149,800 yuan ($21,890)—approximately double the price of a similar-sized gasoline-powered car in China. BYD is targeting corporate buyers first. The company is also in talks with state power grid operators on establishing recharging facilities.
Wang told reporters the price was a bit high but it was lower than the same type of cars on sales in overseas markets. “If the government can provide supportive measures such as tax incentives, the price of the cars can be reduced to the level that the public can afford,” Wang said.