Visionary Vehicles races big three auto makers to market with a hybrid plug-in electric car

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(NaturalNews) Up until now, Visionary Vehicles CEO and former Subaru of America founder Malcolm Bricklin had been content to import Chinese-made cars to the United States, but he recently announced his intention to produce a line of plug-in hybrids priced 20 to 30 percent lower than competitors.

Plug-in hybrids are built similarly to standard gasoline-electric hybrids -- which provide excellent gas mileage through an internal combustion engine used in concert with a nickel-metal hydride battery -- but can be plugged in to a common wall socket and recharged. The hybrid variation is beginning to pick up steam as both General Motors and Ford unveiled plug-in offerings at the North American International Auto Show in Detroit on Sunday, and government agencies in New York are currently working to convert their hybrid fleet to plug-ins.

Bricklin's plug-in would run primarily on its lithium-ion battery, despite the fact that experts say the battery technology is unproven. Unlike most gasoline-electric hybrids, the gasoline engine would only recharge the batteries and not provide any direct power to the vehicle, much like Chevrolet's recently announced Volt concept car, except the Volt's engine will drive the vehicle if it becomes necessary.

According to Bricklin, he is currently building a prototype of his 100-mpg plug-in hybrid concept here in the United States and is trying to get the production model built in China. If the cars are built there, the low wages and modern equipment available will drive down the cost of the end product. He estimates that the prototype will be up and working in six months, and that the production models should go on sale in about two years.

When Bricklin originally intended to sell Chery vehicles, he set up a distribution network of 29 dealers to create Visionary Vehicles and raised $225 million in financing from Atlantic-Pacific Investment. But, when Chery decided to make cars for DaimlerChrysler instead. Brecklin had to come up with a new strategy.

After Chery signed with Chrysler, one of the dealers dropped out, but Bricklin still has 28 of them on board to market his hybrid when it comes out and is still in talks with Chery and 14 other Chinese car manufacturers. He says he intends to raise the $200 million needed to launch the project from dealers and private investors.

The first model Bricklin plans is a midsized four-door sedan costing anywhere from $25,000 to $35,000, and then he wants to produce an SUV and a hardtop convertible.

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