China's third-largest automotive group, Dongfeng Motors, recently announced that it's set to invest a massive chunk of change into the development of alternative technology vehicles. The company's future blueprint shows that Dongfeng will dish out three billion yuan ($459.7 million U.S. at the current exchange rate) in an effort to speed up the commercialization of eco-friendly vehicles like hybrids and electrics.
It appears that Dongfeng is gearing up to offer electric cars in mass quantities beginning in early 2012, according to reports. The Chinese automaker is supposedly aiming to sell 100,000 electric vehicles by the end of 2015, says Zhu Fu Shou, president of Dongfeng. However, it's unclear if all of those battery-powered vehicles will bear Dongfeng's own logo or if that number includes electric autos from its many joint venture partners: Nissan, Kia, Peugeot, Citroen and Honda. Either way, that's a load of electrified vehicles reportedly set to hit the streets soon.

[Source: China Car Times]

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