China-based BYD has introduced a plug-in hybrid that can be plugged into a regular electrical outlet, and achieve sixty miles on one charge.
The BYD F3DM is the first mass-produced plug-in vehicle in the world. While the car will not be available in the United States until approximately 2011, according to an article on Bloomberg.com, the release of the vehicle provides a boost for the sagging vehicle market, and for the Chinese market in particular.
The F3DM will sell for approximately 149,800 yuan (the equivalent of about $22,000) according to the article. The vehicle faces stiff regulatory hurdles in the U.S market, which is probably the reason that GM, if it’s still around, might have a chance to beat the F3DM to the market with its own plug-in, the Chevy Volt.
A good indication of BYD’s increasing status in the car market: Warren Buffett recently invested about 230 million dollars.
Photo Credit: BYD