Tuesday, December 30, 2008
China's Beiqi Foton Motor Co. has launched a $730 million design and production base for clean energy vehicles in Beijing, the company said Tuesday.
The facility will produce up to 5,000 clean-energy buses and 400,000 fuel-efficient engines a year, the company said in a statement.
The design and production base, backed by the city government, is part of the capital's efforts to fight pollution by reducing car emissions, the company said.
The most prominent investor in green car technology in China is American investor Warren Buffet, who owns a 10% stake in another company, BYD Auto, which unveiled China's first mass-produced hybrid electric car in December.
SOURCE: AFP