Business
        

Cars

Miao: 100b yuan boost to alternatives

Updated: 2011-03-14 13:32

By Xu Xiao (China Daily)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

BEIJING - The central government will spend 100 billion yuan ($14.87 billion) over the next decade to support development of new energy and energy-saving vehicles in China, according to Miao Wei, head of the Ministry of Industry and Information Technology.

Miao: 100b yuan boost to alternatives

The plan - which would make China a global leader in funding new energy vehicles - has been finalized and is likely to be unveiled in the first half of 2011 after approval from the State Council, Miao said.

According to Shanghai Securities News, about 50 billion yuan will be used for research and development, with rest used to nurture the market, produce components and build new-energy infrastructure in pilot cities.

The plan was first proposed in the latter half of last year.

Related readings:
Miao: 100b yuan boost to alternatives Alliance drives promotion of electric cars
Miao: 100b yuan boost to alternatives Energy plan to focus on cars
Miao: 100b yuan boost to alternatives Plan to spark demand for electric cars
Green-car coalition
Miao: 100b yuan boost to alternatives China's chance to lead in 'green cars'

By 2020, China is expected to be the world's largest market for energy-saving vehicles - some 20 million electric, hybrid and other types of automobiles

Planners aim to have more than 1 million hybrid passenger vehicles on the road in the next five years, up from the 500,000 units in the draft plan.

From 2016 to 2020, China will focus on increasing fuel efficiency to equal top international standards.

The country also aims to have three to five major new energy automakers with self-owned intellectual property rights and strong competitiveness in the global market.

 

E-paper

Rise and shine

The Chinese solar energy industry is heating up following recent setbacks in the nuclear sector

Bombs aim for regime change
CSI, with a twist
Literary path

European Edition

Specials

Peony express

Growers of china's unofficial national flower are reaching out to europe for help

Tea-ing up

More turning to Chinese tea for investment opportunities like vintage wine

A cut above

The ancient city of Luoyang is home to a treasure trove of cultural wonders.

Beloved polar bear died
Panic buying of salt
'Super moon'