(JW Insights) Aug 25 -- Chinese state-owned carmaker Dongfeng Motor(东风汽车) has launched Nammi, a new battery electric vehicle brand, reported Yicai Global on August 25.

Dongfeng introduced the Nammi 01, a mini EV priced between RMB80,000 and RMB100,000 ($10,980 and $13,730), at a press conference in Chengdu on August 24. Deliveries are expected to begin in November.

The Nammi 01 will use Dongfeng’s self-developed solid-state battery with super-fast charging capability and a range of 200 kilometers after eight minutes of charge.

Dongfeng plans to launch one or two new Nammi models every year from next year, expecting to sell over 400,000 units by 2025, according to a brand development plan released by the carmaker.

Dongfeng already has three EV brands, including luxury off-road marque Mengshi and high-end marque Voyah. Nammi will enable the carmaker to tap into another segment of the EV market.

The firm intends to invest RMB50 billion ($6.9 billion) to develop its EV models between this year and 2025 and launch 18 electric passenger cars and 22 basic commercial vehicles in the period, according to the company’s overall EV development plan.

By next year, all Dongfeng’s major passenger car brands should be electrified. Its annual EV sales should exceed one million units by then, with exports accounting for no less than 10 percent of its total sales, according to the Yicai Global report.

(Gao J/Yuan XY)