BAIC unveils electric car, invests $334 mln in plant

* Unveils first self-developed electric car

* Investing $334 mln in green vehicles

* Targets 5-10 pct overall sales from green models by 2015

SHANGHAI, Nov 16 (Reuters) - Beijing Automotive Industry Holding Corp (BAIC) has unveiled its first self-developed electric car, joining domestic rivals to tap potential demand for clean energy cars.

The model, known as BE701, is capable of going as far as 200 kilometres when fully charged, with a maximum speed of 160 kilometres per hour, BAIC said in a statement over the weekend.

It did not provide a timetable for mass production of BE701, but unveiled details of a new clean energy vehicle development and manufacturing facility it had just set up, involving total investment of 2.28 billion yuan ($334 million).

The fund would come from the government and other sources, the statement said without elaborating.

The facility, based in the outskirt of Beijing, will be able to make 50,000 electric vehicles and 100,000 hybrid models, it said but did not specify the timetable.

BAIC, a partner of Daimler AG (DAIGn.DE), meanwhile, has set up a company focused on clean energy vehicles only, which expects to sell between 20,000 to 40,000 green models annually in 2011.