Fujian Southeast Motor has announced that it will unveil the V3 Lingyue hatchback model at the upcoming 2009 Shanghai auto show in April, after its first self-developed V3 Lingyue compact sedan was launched last October, said xinhuanet.com today.
For the own-brand strategy of Southeast Motor, both the sedan and hatchback models of the new V3 Lingyue series are equipped with the all-new 1.5L MIVEC engine that was specially designed and fine-tuned for the Chinese market by Mitsubishi Motors, a Japanese investor and partner of the Chinese carmaker in coastal Fujian province, southeastern China.
The new 1.5LMIVEC engine delivers powerful performance, rapid reaction, high security and fuel efficiency. Its trial run shows that the 1.5LMIVEC engine performs better than a 1.6L engine but consumes only as much fuel as a 1.3L engine, using only 4.3 liters of oil per 60 kilometers. The 1.5LMIVEC engine has met the Euro IV emission standard.
The Lingyue sedan model was based on the older generation of Chinese-made Mitsubishi Lancer as an entry-level own-brand car of Southeast Motor, and has been well received in the market. Its hatchback version will be released at the Shanghai auto show next month and may start mass production in the third quarter of this year.
The V3 Lingyue compact sedan was launched onto the market in late October, priced at 60,000 yuan ($8,780) to 80,000 yuan, about 40,000 yuan lower than Lancer. It has sold about 5,000 units each month since it hit the market. The V3 Lingyue hatchback may be similarly priced.