Chery Makes Its First Electric Car

BEIJING -- China's Chery Automobile Co. said it has produced a prototype of its first alternative-energy vehicle.

The company also is setting up a separate electric-car company, people familiar with the matter said. A Chery spokesman said such a "possibility can't be ruled out" but that the company's plans "have not been settled yet."
The electric car, called the S18, travels 120 to 150 kilometers on a charge. It can be fully charged in four to six hours using a 220-volt home outlet, the auto maker said Thursday.
Chery said its car will be priced at a level that is "very suitable for families to buy." The company, which is No. 1 in sales volume among Chinese auto makers that don't have a foreign joint-venture partner, didn't say when the car would be available.
China's BYD Co. began selling its plug-in electric hybrid car in China in December. Called the F3DM, the car plugs into a home outlet and comes with a small gasoline engine that can recharge the battery on the go. BYD's car, which is priced at 150,000 yuan, or around $22,000, can run 80 to 100 kilometers exclusively on electricity.
China this month said it plans to subsidize purchases of alternative-energy vehicles by government departments.—Patricia Jiayi Ho and Ellen Zhu