Hu Maoyuan, the president of Shanghai Automotive Industry Corporation, has disclosed to local media that SAIC Group will invest CNY6 billion over the next two years for research and development on new energy vehicles.

Shanghai Automotive Industry Corporation Group says it will invest more than CNY12 billion to develop new energy vehicles and actively progress the industrialization of the key components of new energy automobiles.

Beijing-based Foton Automobile Company has signed a sales contract with Taiwan Chengyun Automobile Company to provide 75 Euro V hybrid buses.

In a prelude to tapping into the North American market, the Chinese battery manufacturer and automaker BYD is to display its electric cars at the annual shareholders' meeting of U.S. conglomerate Berkshire Hathaway in May.

Taizhou-based BenZhou Motorcycle Group says it has unveiled a new high-speed hybrid scooter.

China's Ministry of Finance and the Ministry of Science and Technology have jointly issued a provisional measure on the management of government subsidies for energy-saving and alternative energy automobiles.

Phase II of Beiqi Foton Motor Co., Ltd.'s new energy bus project has been now finished and put into production with an investment of CNY230 million.