March 31, 2010, 12:19 AM EDT
March 31 (Bloomberg) -- BYD Co., the Chinese carmaker backed by Warren Buffett, started selling its F3DM plug-in hybrid car to individual customers in the city of Shenzhen on March 29 as the government prepares to offer subsidies for alternative energy-fueled vehicles.
BYD, which started marketing the vehicle to government and corporate buyers in December 2008, is charging 169,800 yuan ($24,900) for the model, more than double the price of its cheapest gasoline-fueled F3 compact car. The F3DM has a range of about 60 miles when using only electric power, according to BYD.
The Shenzhen-based carmaker, 10 percent owned by Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc., delivered 48 F3DM cars last year. Future sales may be boosted by subsidies for alternative energy-fueled vehicles being considered by China’s government, which is expected to announce measures this year.
The F3DM being sold to individual customers is an updated version equipped with a solar panel on the roof, allowing it to use gasoline, electricity and solar energy, the company said.
--Tian Ying. Editors: Terje Langeland, Ian Rowley.
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