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BYD and Chery To Launch New Hybrids in China this year.

The Corolla-size F3DM will go on sale later this year, priced from around $14,500, according to the Chinese Web site sina.com. With this car, BYD expects to undercut the price of the Toyota Prius by thousands of dollars. The F3DM, or Dual Mode, is a plug-in hybrid with a proprietary lithium-ion battery pack that can run on either gasoline or pure electric power.

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