* SAIC eyes 20 pct of green vehicle market by end-2015
* SAIC, Volvo bus agrees on parts JV
(Adds executive's quote, details of new parts JV with Volvo
SHANGHAI, April 22 Top Chinese automaker SAIC
Motor plans to invest more than 12 billion yuan
($1.85 billion) in green vehicles and related parts through
2015, a senior executive said, as it targets a 20 percent share
of China's energy-efficient-vehicle market.
All domestic companies, from Dongfeng Motor Group
to Geely , are working harder than ever on
clean vehicles, seen by many as the next industry gold mine.
"We will step up our efforts in the coming year to improve
our technologies on hybrid, EV and full-cell models," Gao
Weimin, head of the company's research and development unit,
told a forum on electric vehicles on the sidelines of the
Shanghai Auto Show.
Rival Dongfeng Motor plans to launch its first electric car
next year and aims to sell 100,000 units by 2015.[ID:nB9E7EV010]
SAIC, a General Motors and Volkswagen
partner, rolled out hybrid Roewe 750 sedan last year and plans
to launch the plug-in hybrid Roewe 550 by the end of 2012.
The automaker has reached an agreement with Volvo
bus to set up a 100 million yuan 60-40 venture to make driveline
systems for hybrid and electric buses.
The partners operate a venture in Shanghai, making Sunwin
Beijing has set up an ambitious target to put 1 million
green vehicles on the road in 2020, from an estimated few
But automakers still face an uphill task as questions remain
over consumer perceptions about the safety and convenience of
electric cars, and about their true environmental benefit since
most electricity in China comes from dirty coal.
Foreign rivals including Honda Motor Co , Toyota
Motor Co , Ford Motor Co and their local partners
are looking to electric and low-emission vehicles as a way to
tackle stricter emissions standards being introduced around the
Japan's Honda said earlier this week that it plans to start
making electric cars in China as early as next year, the boldest
step so far by a global automaker to tap Chinese demand for
energy-efficient cars. [ID:nL3E7FJ0O1]
No large foreign automaker sells electric vehicles in
($1 = 6.494 yuan)
(Reporting by Fang Yan and Jason Subler; Editing by Ken Wills
and Vinu Pilakkott)