China's Dongfeng Motor Group will introduce hybrid and electric vehicles within two years, President Zhu Fushou said in Hong Kong.

Previously, the company had confirmed plans to spend 3 billion Yuan (US$ 443 million) to develop alternative-fuel vehicles over the next five years. Now it has publicly set a launch date for its first electric vehicle.

By 2015, Dongfeng hopes to sell 100,000 hybrids and 50,000 electric cars. In four or five years, the company expects hybrids and electric cars will account for 20 percent of its production, Zhu said.

China's central government is offering big subsidies to accelerate development of electric cars and hybrids. Last month Beijing announced plans to spend 100 billion Yuan (US$ 15 billion) over the next decade to develop fuel-efficient vehicles.

Beijing aims to have 5 million plug-in hybrids, electric vehicles and other alternative-energy vehicles on the road by 2020.