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It is known from Beijing Automotive Industry Holding on 2 February 2010 that Beijing Auto will develop new energy vehicles with 553.6 million USD within 3 years.
Recently, the domestic auto manufacturers invested more to the development of the new energy vehicles. BYD introduced the investment of 1.8 billion HKD from Buffett. SAIC plans to invest 1.76 billion USD in new energy vehicles before 2014. Dongfeng is going to invest 4.8 billion USD with 10 years. There is around 219.7 million USD for new energy commercial vehicles, about 249 million USD for new energy cars, and about 85 million USD for the key parts and components in the investment plan( 553.6 million USD in total). The principal of Beijing Auto indicated that in 2010 it would realize the core technology, the industrialization of the new energy battery based on the foundation in 2009. Meanwhile, Foton and Hyundai will speed up the development as well as application of new energy technology on the current models and proceed with demonstration operation as soon as early on the basis of meeting the requirements of Foton AUV hybrid power buses for Beijing public transport.