First plug-in hybrid goes on sale in China, requires no bailout

The first mass-produced plug-in hybrid is now being sold by GM a Chinese company, BYD or Build Your Dreams.  It comes only two years before the Volt and at a price about $10,000 less ($22,000).  The car has a range of 60 miles on a charge (the Volt allegedly goes 40), and the lithium-ion batteries can be recharged in 7 hours, or 50 percent recharged in 10 minutes at special charging stations.  According to Wang Chuanfu, BYD’s founder and chairman:

The development of electric-powered vehicles is the best way for the Chinese auto industry to surpass other leading countries.

He’s got that part right.  Did you see the new SUV that Chevy just debuted?  It gets 30 miles per gallon on the highway!

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