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News from Chang"an Motor reports that its new research product petrol-electric vehicles have been successfully sold in this year. According to Chang"an"s short-term plan, it is going to spend 300 million yuan ($40.76 million) by 2012 to introduce more hybrid models and carry out research.
Hybrid vehicles have tremendous growth potential in China. Many customers know its advantages very well. However, hybrid sales in China remain negligible because they are much more expensive. Chang"an said it would also boost research in vehicles powered by other new energy resources, including hydrogen, pure electricity and biofuels. It plans to invest a total of 4 billion yuan in new product development within the next three years. Chang"an aims to sell 2 million vehicles a year by 2010, with three-fifths from its own nameplates.
Chang"an New Minibus