Chinese manufacturer BYD is getting ready to introduce its electric car to the U.S. in 2010.

According to the Wall Street Journal, BYD’s chairman Wang Chuanfu said the lithium-ion battery powered e6 will be ready ahead of schedule with a limited run of a few hundred vehicles.

With an estimated price tag of $40,000, BYD says the e6 has a range of 249 miles on a single charge.

BYD is a relatively new player in the auto industry. Up until 2003, BYD (which stands for “Build Your Dreams”) produced lithium-ion batteries for devices such as cell phones. BYD established its automotive arm in 2003 and has since earned the backing of Warren Buffett’s MidAmerican Energy Holdings which owns a 10 percent stake.