Geely to launch hybrid engine project

It is reported that Geely Auto and Stars Electronics Ltd, in Guilin City, Guangxi Province co-launched hybrid vehicle project in Guangxi. The two sides will co-produce hybrid engines, and targets for annual output of 200,000 units. Once the project completed, it will become the largest hybrid engine projects in China.

It is learned that the investment of the joint venture is over 200 million yuan for the hybrid-electric plant projects.

Most experts believe that hybrid-electric engine can be fuel-efficient, and it can save gas usage about 30 to 50%, and the exhaust is only 5% of that of gasoline engine. It is estimated that once the output reached 200,000 units, and the production value will be 60 billion yuan, that means each engine is 30,000 yuan, equivalent to the engine's average price in current market.