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BYD to produce 300,000 vehicles in 2008

By Shangguan Zhoudong (Chinadaily.com.cn)
Updated: 2007-04-06 10:04

A picture taken from BYD Auto in Xi'an City, Northwest China's Shaanxi Province, April 5, 2006. This F3R sedan, which will be launched in April. [Chinadaily.com.cn]

BYD Auto Co Ltd, one of China's largest private-run automotive manufacturers, plans to produce and sell 300,000 vehicles in 2008 and 500,000 vehicles in 2009, according to Xia Zhibing, general manager of BYD Auto Sales Co Ltd.

The Xi'an-based automaker also plans to launch a 1.5-liter hatchback sedan, the F3R, at the 12th International Automobile and Manufacturing Technology Exhibition (Auto Shanghai 2007), which will be held from April 22 to 28 at the Shanghai New International Expo Center.

The model is equipped with a Mitsubishi 4G15S engine and Delphi electronic injection management system, providing higher fuel efficiency. The model also has larger room than other models of the same kind.

"The model will be priced less than 100,000 yuan (US$12,937) and we will offer two specifications with a Mitsubishi or an independently-developed engine," Xia said.

The model's rivals will be Shanghai Volkswagen's Polo Jinqing, Shanghai General Motors Excelle HRV and Dongfeng Motor Co Ltd's Tidda, according to Xia.

BYD Auto will display its economical sedan F3 and F3R, mid- and high-grade car F6 and hardtop convertible F8 at the Auto Shanghai 2007. Other showcases include five independently-produced engines with a displacement of 1.0, 1.3, 1.5, 1.8 and 2.0 liters.

The automaker will also launch some other new models including the F2, F7 and F9 in near future.

BYD plans to sell 100,000 F3 sedans in 2007. In the first three months, sales of the F3 are expected to reach 25,000 units.

In 2006, BYD Group realized a profit of 1.128 billion yuan (US$145.92 million), up 113 percent year on year. BYD also sold 63,153 units of F3 sedan, up 472 percent year on year with a profit of 116 million yuan.

BYD will develop new engines using up-to-date technologies and make break through in environmental protection, fuel-efficiency and low emission and promote mass production of engines, according to Xia.