Chinese Electric Car in 2008?

I've long heard rumors of Chinese auto makers developing an electric car. It makes lots of sense, given Chinese battery production.

Now Autobloggreen has a report out of China involving BYD. I recalled hearing in 2005 that BYD acquired a license from Ovonics to manufacture NiMH batteries. But I was disappointed if not surprised when it was stated clearly in the press that they were acquiring "the nonexclusive right to manufacture, use and sell Ovonic Battery's proprietary NiMH technology-based batteries for nonpropulsion applications."

Now, using Lithium (a Chinese product without lead!), we get a name, F6E, and a photo. Unfortunately the article suggest the car will be solely for the domestic Chinese market. Seems to me the Chinese ought to capture the American market for electric cars before the majors get off the dime.