CHINA: BYD to launch hybrid car in China by year-end
Chinese car manufacturer and battery specialist BYD will unveil its F3DM hybrid car in China as early as the end of this year according to Chinese media sources.
The F3DM model, which combines hybrid and electric vehicle systems, has passed all relevant tests before its official launch according to the company,
BYD said in a statement that the battery of the new model can be recharged to 50% of capacity in just 10 minutes. BYD plans to launch its pure electric vehicle by the second half of 2009.
US billionaire investor Warren Buffett's MidAmerican Energy Holdings recently said it will pay US$230mllion for a 10-percent stake in BYD.