GM To Offer Discount On Buick Velite In China
General Motors Co would offer a 36,000 Yuan ($5,233) discount to Chinese buyers on its Buick Velite (Photo: Reuters)
General Motors Co said on Tuesday it would offer a 36,000 Yuan ($5,233) discount to Chinese buyers on its Buick Velite plug-in hybrid car when it goes on sale in the country later this year.
The carmaker said it would offer the "new energy vehicle" subsidy due to uncertainty over Chinese government subsidies for such vehicles. The Velite gets power from an electric battery system that is recharged using a small gasoline engine.
According to the Green Car report, the Velite concept car reflects a new vehicle using Volt underpinnings or the Velite name will be applied to the existing Volt.
A production version of the Velite would likely use the same powertrain as the Volt, which includes a 1.5-liter 4-cylinder gasoline engine and a T-shaped, 18.4-kilowatt-hour lithium-ion battery pack.
GM's Buick brand made the announcement at an event ahead of the Shanghai auto show that opens later this week.