BAIC Group revealed that it is joining a number of other car makers that are entertaining the idea of buying assets from Fisker Automotive Inc. Fisker Automotive Inc. is a US electric car company based in Anaheim, California.

According to Chinese media reports, BAIC Group recently sent a team to visit the ailing California-based car maker. The reports suggest that BAIC Group is planning to buy the patent for Fisker Automotive's Atlantic plug-in hybrid vehicle. Chinese media reported that the Beijing-based automaker wants to accelerate its own development electric cars through the business deal. BAIC currently manufactures the E150 electric vehicle. The E150 is a 4-meter-long compact hatchback. The company, however, has plans to make bigger and more luxurious electric cars as well.

BAIC Group vice-president Zhang Xin was once quoted by media reports saying that  the company is attempting to roll out electrics vehicles that can contend with Tesla in 2015.

"In the near term, the cost of batteries won't come down significantly, and the price of electric vehicles will stay high. In such circumstances, there won't be a truly cheap, budget electric car for the majority customers, but expensive, high-end electric vehicles might find a niche in the market," Zhang Xin said.