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Electric car industry racing ahead in China

Consumers are also benefiting from — and thus helping to support and maintain — China’s commitment to the EV revolution. The government is giving 120,000 yuan (AU$18,276) to each EV consumer. Such strong support from both the public and private sectors should lead to increasingly affordable EVs….Such developments are the rumblings of a formidable domestic market, good news for China’s already-healthy economic appetite.

Don’t put the brake on electric vehicles in Oz, January 24, 2011  Crikey  Alice Body The wheels aren’t just turning on the electric vehicle (EV); the whole industry is accelerating thanks to a major new initiative by the Chinese government. Officials are planning on completing no less than 10 million electric parking spaces by 2020, Beijing Automotive Industry Holding Co’s (BAIC) president Wang Dazong revealed last week.

The plan coincides with other incentive actions by Chinese policymakers that will not only help free China from its dependency on foreign oil and lighten their carbon load, but will also further bolster their economic position in a world with dwindling oil supplies. …

China’s ten million electric parking spaces complement several other government endeavours to make EVs attractive to produce. The government’s 2009 $220 million stimulus package encouraged local Chinese carmakers such as BAIC and BYD to upgrade to green automotive technology. In October last year, China’s Minister of Science and Technology estimated that 8.5 billion yuan (AU$1.3 billion) has been invested in the green car industry thus far.

Consumers are also benefiting from — and thus helping to support and maintain — China’s commitment to the EV revolution. The government is giving 120,000 yuan (AU$18,276) to each EV consumer. Such strong support from both the public and private sectors should lead to increasingly affordable EVs.

China’s output of electric and hybrid vehicles is expected to reach one million units by 2020. Such developments are the rumblings of a formidable domestic market, good news for China’s already-healthy economic appetite. In fact, it all sounds just peachy — if you’re Chinese……

Don’t put the brake on electric vehicles in Oz – Rooted

January 26, 2011 - Posted by Christina Macpherson | China, ENERGY, technology