FAW Xiali to develop electric vehicles
- Source: globaltimes.cn
- [17:22 February 15 2011]
- Comments
Tianjin FAW Xiali Automobile Co., Ltd. will invest 350 million yuan ($53 million) to develop small and cheap electric vehicles, all to be based on the Wizi production platform, Auto.ifeng reported Tuesday.
According to the company's plan, Tianjin FAW Xiali will begin to build a new factory next month, which is expected to go into operation in June 2012 to manufacture electric vehicles, engines and batteries.
In addition, FAW Xiali will build another two factories by the end of 2013 with a production capacity of 400,000 units and 200,000 units of A-class models.
FAW Xiali's production capacity will reach 530,000 units a year once all factories are completely established.
According to statistics, the company's total output in January was of 27,500 units, up 15.47 percent year-on-year. Its sales volume was 37,400 units, up 19.27 percent.
The company manufactured 22,700 units of Xiali, up 27 percent year-on-year, it sold 29,300, up 32 percent. But the V series still experienced a downfall in January, producing 4,937 units and selling 8,193 units, down 12 percent.
