Beijing: Chinese car-maker BYD, which is backed by famous US investor Warren Buffett, has made its first all-electric car available to private buyers in the country.
The BYD e6 -- launched Wednesday in the southern town of Shenzhen, where the auto-maker is based -- will be sold at over 300,000 yuan (about $46,800), Xinhua reported.
The five-seater is equipped with a 75 kw motor and an iron battery, powering the vehicle to a range of nearly 300 km on a single charge in urban conditions, BYD said on its website. It takes 40 minutes to fully charge the vehicle.
The car`s projected top speed is 140 km per hour, said the company, in which Buffett owns a 10 percent stake.
The e6 can save its owner about 75 percent of energy cost compared to ordinary oil-consuming vehicles, said Lian Yubo, the firm`s vice president.
BYD Auto was established in 2003 and is a part of the BYD Co Ltd, a rechargeable battery maker. According to reports, in 2010 production capacity was estimated at 700,000 units, and sales at 519,800 units. In December 2008, Warren Buffet spent $230 million buying up 10 percent stake in BYD.