GreenTech Automotive Inc. (GTA), a U.S. automobile company co-founded by Chinese American financier Wang Xiaolin and Terry McAuliffe, former Chairman of the Democratic National Committee, has recently completed construction of its new production facility for hybrid vehicles and plans to put it into operation in March 2011, Beijing Youth Daily reported Wednesday.
Months ago, an all-electric and a hybrid sports car made by GTA, as well as Toyota Prius hyrid and Nissan Leaf electric car were selected as “masterpieces of green cars” at the CGI Annual Meetings initiated by the Clinton Global Initiative (CGI)-established in 2005 by President Bill Clinton.
GTA has the most advanced engine and hybrid power technology. Its hybrid sports car can travel up to 1,225 km using gasoline and electricity (on single charge). While its neighborhood electric vehicle (NEV) can go 110 km after being charged via a standard household outlet for six-eight hours. Drivers would spend less than a dollar charging the car.
Compared to the pricey electric and hybrid vehicles, which on average are sold between $40,000-$70,000, produced by Toyota and General Motors, GTA’s are much more competitive. Carring with a price tag between $20,000 and $40,000, GreenTech’s fuel-efficient vehicles have to a large extent won the company more of the general consumer market.
GTA, committed to the advancement of clean automobile technology, is scheduled to roll out its vehicles next March, with output reaching 150,000 units in 2012 and 250,000 units in 2014.