Chinese Automaker BYD Plans US PHEV Sales In 2011

Chinese automaker BYD confirmed its plans to have its F3DM PHEV for sale in the US by 2011. The company made its official announcement on the second day of the North American International Auto Show in Detroit. The company is also considering the construction of a North American plant.

BYD will not export the vehicle, which is already in production in China until the vehicle's third model year, in order to sell a "mature, proven product." The F3DM will hit the market at about $20,000 and will compete directly with Toyota's plug-in Prius and GM's Volt. GM has not yet announced a final sticker price for the Volt, but GM VP Bob Lutz has said in the past that he expects the car to be priced around $40,000. BYD says that the F3DM sells in China for about $21,000.

BYD has three vehicles at this year's NAIAS – the e6, The F6 hybrid and the F3DM. The e6 is a five-seat mid-size passenger sedan, which the company says has a range of 250 miles between charges. BYD plans to bring the F6 hybrid to the domestic market in 2009. BYD is the world's second-largest rechargeable battery manufacturer and founded BYD Auto in 2003.

Before any of the company's vehicles can be sold in the US, the vehicles must meet current crash-test safety standards and EPA evaluations. The company has not said when it might consider building a production facility in the US, or where the plant might be located. Mega-investor Warren Buffett turned a few heads last fall when he purchased a 10-percent stake in BYD.