Saturday, October 16, 2010

China's Minister of Science and Technology Predicts Annual Production For EV's to Reach 1 Million Units by 2020

China Minister of Science and Technology Wan Gang said that the country’s annual production capacity for electric motor vehicles will reach 1 million units by 2020.

While extolling new energy cars, Wan said promotion of public transportation would also help to ease the problems caused by expanding car ownership in China. Public transport should also be the top priority for use of new energy automobiles in China, he said.

Twenty-five Chinese cities have jointed a pilot program co-sponsored in 2009 by Ministry of Science and Technology, Ministry of Finance, National Development and Reform Commission, and Ministry of Industry and Information, to promote energy-efficient and new-energy vehicles. The project aimed to replace public transport vehicles with electric vehicles to support the development of electric vehicle industry, Wan said.

Wan said that a total of 8.5 billion yuan (US$1.28 billion) from the capital market has entered the electric car industry since the debut of the project in 2009.

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