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china's byd lifts 2010 auto sales target 14 pc

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    China's BYD lifts 2010 auto sales target 14 pct
    Published: 29 Dec 2009 20:37:07 PST

    HONG KONG, Dec 30 - Chinese battery and car maker BYD <1211.HK>, whose stakeholders include billionaire investor Warren Buffet, said on Wednesday that it has raised its 2010 sales target, as it prepares to roll out its first electric cars.

    The company had lifted its sales target for next year by 14 percent to 800,000 cars, from a previous target of 700,000, said Paul Lin, manager of the company's marketing department.

    He attributed the revision to robust demand from Chinese consumers under Beijing's 4 trillion yuan ($586 billion) economic stimulus plan, which includes several measures specifically aimed at boosting car sales.

    "The company already reached its 2009 target of 400,000 cars in November, so now we are setting our 2010 target to double that number at 800,000 cars," Lin said, adding that this year's final sales should come in at around 440,000 cars.

    He added that BYD's highly anticipated e6, its first electric car, had passed government safety inspections in China and received other necessary permits. The company planned to start selling the e6 in China in the first quarter of 2010, aiming to export them to the United States by the end of next year, he said.


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