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China's fifth-largest automotive group, Beijing Automotive Industry Holdings Co (BAIC), has launched a subsidiary called the Beijing New Energy Automotive Company with which it plans to produce as many as 40,000 electric and hybrid cars by 2011. The new company celebrated its birth by showing off an electric sedan dubbed the BE701 that it hopes to sell under its very own "Beijing" brand. The lithium iron phosphate-powered car is said to have a range of 124 miles and is able to reach 100 mph. Usi

Coda electric sedan - Click above for high-res image gallery

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