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GUANGZHOU (Reuters) -- General Motors Co. rolled out its first China-developed electric car at the Guangzhou auto show on Thursday as it ramps up its green car push in the world's largest auto market.
The Sail Springo EV, with a starting price of 258,000 yuan ($41,400), will be initially available only at GM's dealer outlets in Shanghai, the U.S. automaker said in a statement.
The car, developed and built by GM and its partner SAIC Motor Corp. Ltd., has a range of 130-200 kilometers and a top speed of 130 kilometers per hour.
Encouraged by Beijing's initiative to put 5 million electric and plug-in hybrids on the road by 2020, many domestic and foreign automakers are gearing up to tap the potential of green cars. SAIC launched its Roewe E50 electric car with a price tag of 234,900 yuan around two weeks ago, while Nissan and local partner Dongfeng Motor said today it will start making its first electric car under its China-only Venucia brand by 2015. Warren Buffett-backed BYD Co. Ltd. has also recently rolled out a financing package that allows fleet operators to buy its pricy e6 EV in installments.
Earlier this year, GM also launched its Chevrolet Volt plug-in hybrid in China.
GM presents first locally deveoped EV for China