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SAIC launches first new energy vehicles
By Jin Jing |
October 24, 2011, Monday
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Print Edition
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SAIC Motor Corp launched its first new energy vehicles last week as China's home-grown carmakers speed up the commercialization of energy-saving models to compete with foreign rivals in the world's largest auto market.
The nation's largest auto group said the new Roewe 750 hybrid is a mid-to-high class sedan mainly targeting business use in public departments with a price tag of 236,800 yuan (US$37,000).
A 32,000 yuan subsidy is offered on the model to public departments in 25 cities nationwide as part of a scheme to promote green cars.
"The launch of Roewe 750 hybrid helps diversify our product line-up and is an important step in demonstrating our efforts in technology innovation and industrialization of new energy cars," said Chen Zhixin, executive vice president of SAIC.
According to the company, the Roewe 750 hybrid, equipped with a battery-powered electric motor, improves fuel efficiency by 20 percent compared to the gasoline version and uses only 7.5 liters per 100 kilometers.
The purchase agreement for the first batch of 90 models has been signed with two car rental companies.
"We target sales of 500 units this year," said Gan Pin, general manager of SAIC's new energy vehicle division. "Next year, we aim to achieve sales of 3,000 units."
China has bold plans to have 1 million battery-powered vehicles on roads by 2015 to reduce emissions. The government will provide rebates to spur sales as new energy vehicles cost more and infrastructure such as charging stations are underdeveloped.
Gan said local parts suppliers and self-owned core technologies enable the Roewe 750 hybrid to be priced competitively against Toyota's Camry hybrid, which costs about 300,000 yuan. The Buick Lacrosse hybrid costs about 260,000 yuan.
Gan said the Roewe brand still trails foreign rivals. "But considering the group's all-out efforts to build green cars, we will win market confidence gradually."
SAIC, the Chinese partner of General Motors and Volkswagen, has invested heavily in developing new energy vehicles in China, where foreign companies are also making aggressive moves.
SAIC earlier formed a joint venture with US-based A123 to develop and produce batteries. Next year, the carmaker will introduce a pure electric vehicle to the market in addition to the Roewe 550 plug-in-hybrid. The plug-in can improve fuel consumption by 50 percent compared to the gasoline version.
SAIC aims to have a 20 percent share of China's new energy vehicle market by 2015.
The nation's largest auto group said the new Roewe 750 hybrid is a mid-to-high class sedan mainly targeting business use in public departments with a price tag of 236,800 yuan (US$37,000).
A 32,000 yuan subsidy is offered on the model to public departments in 25 cities nationwide as part of a scheme to promote green cars.
"The launch of Roewe 750 hybrid helps diversify our product line-up and is an important step in demonstrating our efforts in technology innovation and industrialization of new energy cars," said Chen Zhixin, executive vice president of SAIC.
According to the company, the Roewe 750 hybrid, equipped with a battery-powered electric motor, improves fuel efficiency by 20 percent compared to the gasoline version and uses only 7.5 liters per 100 kilometers.
The purchase agreement for the first batch of 90 models has been signed with two car rental companies.
"We target sales of 500 units this year," said Gan Pin, general manager of SAIC's new energy vehicle division. "Next year, we aim to achieve sales of 3,000 units."
China has bold plans to have 1 million battery-powered vehicles on roads by 2015 to reduce emissions. The government will provide rebates to spur sales as new energy vehicles cost more and infrastructure such as charging stations are underdeveloped.
Gan said local parts suppliers and self-owned core technologies enable the Roewe 750 hybrid to be priced competitively against Toyota's Camry hybrid, which costs about 300,000 yuan. The Buick Lacrosse hybrid costs about 260,000 yuan.
Gan said the Roewe brand still trails foreign rivals. "But considering the group's all-out efforts to build green cars, we will win market confidence gradually."
SAIC, the Chinese partner of General Motors and Volkswagen, has invested heavily in developing new energy vehicles in China, where foreign companies are also making aggressive moves.
SAIC earlier formed a joint venture with US-based A123 to develop and produce batteries. Next year, the carmaker will introduce a pure electric vehicle to the market in addition to the Roewe 550 plug-in-hybrid. The plug-in can improve fuel consumption by 50 percent compared to the gasoline version.
SAIC aims to have a 20 percent share of China's new energy vehicle market by 2015.
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