SHENZHEN, China — BYD Auto, whose parent company is one of the world's largest makers of rechargeable batteries, has launched China's first plug-in hybrid vehicle, the compact F3DM, nearly two years ahead of the planned introduction of the 2011 Chevrolet Volt. What's more, it will be launched at the 2009 Detroit Auto Show next month.
The F3DM will be priced starting at around $21,900. General Motors has said privately that the Volt will cost nearly twice as much.
Headquartered in this southern city, BYD said the F3DM is the first in a series of "dual mode" hybrid vehicles that can run on pure electricity or a combination of gasoline and electricity. The F3DM uses an electric motor and a small gasoline engine to supplement the battery pack.
BYD said the F3DM can run up to 60 miles in pure electric mode on a single charge. More important: Owners simply need to plug the vehicle into a standard household outlet to fully recharge the battery pack overnight. The vehicle also can be "quick charged" to 80 percent capacity in about 15 minutes.
Buffett's MidAmerican Energy Holdings, an affiliate of Berkshire Hathaway, in September invested $230 million to acquire a 9.9-percent stake in BYD Company, the parent of BYD Auto.
BYD Auto plans to exhibit the F3DM and other models next month at the 2009 Detroit Auto Show. It has tentative plans to begin selling cars in the U.S. in late 2010 or early 2011.
Inside Line says: BYD also has jumped out in front of Toyota, which doesn't expect to have a plug-in hybrid on the market before 2010. — Hu Lei, Correspondent
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