Chery Auto said it sold 682,000 vehicles in 2010, and has set a sales target for 2011 of 800,000 units, the Oriental Morning Post reported Friday. Meanwhile, Chery will launch five new models, as well as several self-developed electric vehicles, including EVs based on reinforced starters and/or powered by its own batteries.

The Anhui-based automaker will also put on the market the Riich G6, a mid-to-high end vehicle, this year, and will later market some more profitable products, Chery’s executive vice president Guo Qian said.

In addition to tapping the mid- and high-end vehicle markets, the company has developed plans for new energy vehicles. Chery spokesman Jin Yibo said research and development of the three core components needed to make electric vehicles including batteries, motors and electronic control systems has been implemented, adding that the company is currently developing other core components consisting of anode materials for lithium batteries, proton exchange membrane, etc.

Aside from that, Chery will accelerate expansion of its dealer network for new energy vehicles, and plans to achieve industrialization of “mild hybrids” – gasoline-electric vehicles, and plug-in hybrid vehicles this year. Its hybrid vehicles reportedly can save 20% in fuel consumption.

Via: GlobalTimes.