GM rolls out China-developed electric car in world's top auto market
11/22/2012| 04:56am US/Eastern
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General Motors Co (>> General Motors Company) rolled out its first China-developed electric car at the Guangzhou autoshow on Thursday as it ramps up its green car push in the world's largest auto market.
General Motors Co (>> General Motors Company) rolled out its first China-developed electric car at the Guangzhou autoshow on Thursday as it ramps up its green car push in the world's largest auto market.
The Sail Springo EV, with a starting price tag of 258,000 yuan ($41,400), will be initially available only at GM's dealer outlets in Shanghai, the U.S. automaker said in a statement.
The car, developed and built by GM and its partner SAIC Motor Corp Ltd (>> SAIC Motor Corporation Limited), has a range of 130-200 kilometres and a top speed of 130 kilometres per hour.
Encouraged by Beijing's initiative to put 5 million electric and plug-in hybrids on the road by 2020, many domestic and foreign automakers are gearing up to tap the potential of green cars. SAIC launched its Roewe E50 electric car with a price tag of 234,900 yuan around two weeks ago.
Warren Buffett-back BYD Co Ltd <1211.HK> <002594.SZ> had also rolled out a financing package recently that allows fleet operators to buy its pricy electric car e6 in instalments.
Earlier in the year, GM launched its Chevrolet Volt plug-in hybrid in China.
($1 = 6.2302 Chinese yuan)
(Reporting by Fang Yan in BEIJING and Kazunori Takada in SHANGHAI; Editing by Jacqueline Wong and Ryan Woo)
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