According to this article, a Chinese company is just now rollng out a plug-in hybrid with an 80 mile battery range (double that of the planned GM Volt), and will bring it to the U.S. in 2010. It sounds as if the asking price will be substantially less than the Volt’s $40K. They plan to launch a full electric next year.
I’m no judge of technology or business plans, but Warren Buffett just bought a 10% stake in the Chinese company.
From the article:
"We are experts in the battery market," Li said. "We have the know-how and the process down. We make the safest batteries in the world. We have never had a recall."
This expertise in batteries is at the heart of BYD’s strategy for taking over the auto industry, which it entered in 2003 after purchasing a government-owned auto plant. In a short time, BYD has become a top seller in China. Currently, BYD makes five models of fuel-powered sedans and hatchbacks, ranging from $8,000 to $20,000.
For its electric cars, BYD developed a lithium-ion battery that uses iron. Using iron brings down the cost of the battery and offers a life cycle of up to 10 years — five times a cell phone battery, Li said. The F3DM, BYD’s plug-in electric hybrid, will allow drivers to run on electricity and gas, seamlessly switching between the two. It boasts extremely low emissions, plugs into a household socket and can go 300 miles on a full tank and a full charge. The company has yet to set a price, but estimates range upward of $20,000.
The company is developing a purely electric vehicle that it plans to launch to Chinese consumers in 2009, Li said. It will be a matter of time before the E6, a full-size sedan that seats five, arrives in the U.S. In the company’s glossy showroom, a sign calls the car "Faddy, Faithworthy and Futuramic."
"The hybrid is a good introductory product," Li said. "Until electric vehicles are more popular, the charging stations don’t exist. This will allow people to drive farther without worrying about it."
According to this NYT article (whose author strangely seems to be completely unaware of the Chinese company), GM is staking everything on the Volt. I’d say they’re toast.