Sales Disappointing for BYD's Plug-In Hybrid
Chinese automaker BYD Auto Co., Ltd. is reported to have sold less than 100 F3DM (dual-mode) EVs (electric vehicles) by the end of this August, and Morgan Stanley thought that the actual F3DM sales would fall far behind the goal of 3000 to 4000 units set earlier this year.
However, large Chinese automakers and regional government are still bullish on new energy vehicles, and making "abnormal" plans. Experts warmed that the blind expansion of new energy vehicles would possibly lead to redundant construction and overcapacity.
In December 2008, BYD unveiled the F3DM EV in Shenzhen, south China, with its selling price fixed at CNY 149,800. Both the battery pack and gasoline engine are installed on the BYD F3DM EV, which is the world's first EV independent of the professional charge stations, said Wang Chuanfu, president of BYD Co. Ltd., parent of BYD Auto.
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