China to Restore Electric Vehicle Industry

Electric Car

Credit: Mr.choppers / CC BY-SA 3.0

To revamp its underdeveloped electric vehicle industry, China is prepared to enter the global market in more competitive ways.

The central government aims to produce 500,000 electric and hybrid cars by 2015 and set up two million units by 2020. China is planning to decrease average fuel consumption per passenger vehicle to 6.9 litres of gasoline per 100 km by 2015.

After introducing electric vehicles, the fuel use per energy-saving passenger will go down lower than 4.5 litres.

Some industry experts are worried about China’s entry into the global market because of a wide gap as other auto producers restoring their electric car industries.

China Auto Industry Development in 2012 reported that Chinese hybrid cars are not more fuel-efficient than their foreign competitors.

The Research Development of Industrial Economics said that the upcoming 20 – 30 years would be a “critical period” for establishing a global new-energy vehicle industry.

The government has planned to build charging facilities within and between cities to fulfil public needs. China is expecting huge growth in the new-energy vehicle market. The government is also geared up to support this sector with friendly tax policies and financial services. It aims to train more professionals who can uplift this sector.

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