Southeast Motor V3 Lingyue to roll off line in Aug

Shanghai, August 13 (Gasgoo.com) The first self-developed compact sedan, called V3 Lingyue, of Fujian-based Chinese carmaker Southeast Motor is to roll off line by the end of this month, said xinhuanet.com today, citing sources from the company.

The new V3 Lingyue model will be equipped with the all-new 1.5L MIVEC engine based on the cutting-edge engine technology of Mitsubishi Motors, a Japanese investor and partner of Southeast Motor. These engines are produced by the Harbin Dongan Mitsubishi, with powerful performance, rapid reaction, high security, and low fuel consumption.

The compact sedan is expected to go on the market in September, to be priced at 60,000 yuan ($8,780) to 80,000 yuan, compared to 94,800 yuan to 122,800 yuan of Lancer, a sedan jointly developed by Southeast and Mitsubishi, on grounds that the added-value of Chinese proprietary brands is low. The Chinese carmaker believes that the price would make the V3 Lingyue more competitive than other cars of the kind in the market.

In addition, Southeast Motor plans to launch one A-class or B-class proprietary car in each of the next few years, as an effort to boost its market share in China. And with experience from its cooperation with Mitsubishi Motors, the company is confident about its prospects.