Manufacturing News

Beijing to invest $15 billion in 'green' cars in 10 years

The Chinese government plans to invest up to 100 billion yuan ($14.8 billion) to subsidize development of fuel-efficient vehicles over the next decade, reports Shanghai Securities News.

Beijing aims to have 5 million plug-in hybrids, electric vehicles and other alternative-energy vehicles on the road by 2020, reports the financial daily, citing a draft plan by the Ministry of Industry and Information Technology (MIIT).

The plan also calls for measures to boost cumulative sales of conventional hybrids to 15 million units by 2020, the newspaper adds.

The government would spend 50 billion yuan to develop and commercialize fuel-efficient powertrains; 30 billion to set up demonstration programs, and 5 billion to build infrastructure in cities selected for EV pilot programs.

Beijing will provide financial support for three to five vehicle manufacturers, plus two or three suppliers of batteries and electric motors.

The Ministry of Industry now is sharing its draft plan with other ministries. The plan, dubbed the Blueprint for Developing Energy Saving and New Energy Vehicles (2011-2020), could be submitted to the state council later this month, the paper reports.

The state council is the central government's cabinet. 

News of the proposed industry subsidy offers yet more evidence that Beijing moving aggressively to create an EV industry.

In June, Beijing launched a pilot program in five domestic cities – Shanghai, Changchun, Hefei, Hangzhou and Shenzhen – to subsidize the purchase of electric and plug-in hybrid cars. Under the program, car buyers would receive up to 50,000 yuan for purchasing a plug-in, and 60,000 yuan for an electric car. 

The government also is encouraging the purchase of fuel-efficient vehicles with conventional powertrains. Car buyers receive 3,000 yuan for purchasing a vehicle powered by an engine no larger than 1.6 liters that will meet government emissions standards.

Conventional hybrids and other fuel-efficient gasoline-powered vehicles will qualify for the 3,000-yuan incentive.

By contrast, the Chinese government considers plug-ins, electric cars and fuel-cell vehicles to be "new energy vehicles" which will be covered by the 100 billion yuan subsidy.

Most Viewed in 24 Hours

Special

Start a Digital Twin Journey from Engineering Simulation

Accenture releases survey of digital transformation

CIMC Reduces Unplanned Downtime by 30% with Greater Operational Insight from ThingWorx

Ansys Simulation Speeding up Autonomous Vehicles

回到顶部
  • Tel : 0086-27-87592219
  • Email : service@e-works.net.cn
  • Add: 3B1 International Business Center, No. 18 Jinronggang Road (No.4), East Lake High-tech Development Zone, Wuhan, Hubei, PRC. 430223
  • ICP Business License: 鄂B2-20030029-9
  • Copyright © e-works All Rights Reserved