Speaking at 25th Cleantech Forum in Beijing, Fang predicts that Chery will produce about 10,000 such electric vehicles with selling price between 40,000 to 50,000 yuan per unit. The electric cars will have a speed allowance of 60-70 km/hour and are likely to be more popular in rural areas, due to the current lack of fuel-cell recharging stations in the city, said Fang.
It will take about eight hours to recharge the fuel cell and the electric cars can run for more than 100 kilometers between charging.
Chery has six models of electric vehicles, including two-seaters and mail delivery vehicles.
Fang added that Chery is in talks with CNOOC Ltd. (NYSE:CEO) (CEO. NYSE;00883.HK), Sinopec (NYSE:SNP) (600028.SH; 00386.HK; SNP.NYSE) and the State Grid Corporation of China on the building of recharging stations for electric vehicles.
Fang did not elaborate on which division of the oil companies are involved, and stressed the possible involvement of other electric car producers in China.