China to release EV master plan in January
China's central planners will publish a new ten-year plan to encourage development of electric cars and plug-in hybrids in January, reports the People's Daily, citing the Shanghai Securities News.
The nation's Energy Saving and New Energy Vehicle Development Plan originally was to due in November.
Chen Quanshi, director of the Automotive Research Institute at Tsinghua University, told the Shanghai newspaper that China's reserves of lithium and rare earth metals -- key raw materials for batteries and motors -- make China a good location for EV production.
Over the next decade, the central government plans to invest more than 100 billion yuan ($15 billion) to support development of EVs and plug-ins.
