FAW Details Future Electric Vehicle Efforts – Targets 15% EV Market Share Within 6 Years
MAY 8 2014 BY MARK KANE
FAW Group announced at Auto Beijing 2014 a new strategic plan for new energy vehicles.
The Chinese company by 2020 would like to take control of over 15 percent of the electric vehicle segment by introducing 6 new energy vehicle platforms and 16 vehicle models with mass market capacity.
“The plan indicates that, by 2020, FAW will complete the layout of key assembly resources, be professional in plug-in hybrid and pure electric power platform, master and control the resources of core assembly. Moreover FAW will complete the preparation of the whole series of industrialization for 6 new energy vehicle platforms and 16 vehicle models with mass market capacity. FAW plans to gain the market share in EV segment over 15 percent in six years.”
On the stage in Beijing there were already four new energy vehicles from FAW – Besturn B50-PHEV, Besturn B50-EV, VITA-EV and Oley-EV, all of which will go on sale for $35,000 to $41,000.
“The fuel saving rate of PHEV models is over 60 percent, which can reduce the cost of car owners significantly. With constant velocity condition up to 200km, the driving range of EV models can reach 150km. The EVs can meet the demands of owner’s daily life. The Evs can be fully charged in 6 hours in slow mode or only 30 minutes in fast mode, which may solve the problems of EVs used in the north in winter. The price range of the 4 new EVs is from 219,800 to 258,800 yuan (RMB).”
“FAW will provide consumers with guarantee of 3 years aftersales service of 600,000km for complete vehicle, and service of 5 years of 100,000km for battery.”
So, expect a new player in the field of new energy vehicles in China as FAW Group joins the party.