BYD to debut electric car in November
14 October 2008
BYD, a Shenzhen-based company best known for producing batteries, is set to begin selling China's first mass-produced electric car in late November, the Wall Street Journal reported. The car, called the F3DM, will be priced at about US$22,000 and will be able to travel up to 110km on electricity when fully charged. The F3DM – reportedly a major reason for a US$230 million investment in the company by Warren Buffett – will come out two years ahead of the expected release dates of GM's Chevy Volt, which is similar in design, and Toyota's new hybrid-electric model. GM and Toyota have said they are taking more time to ensure the safety of the lithium-ion batteries in their cars.