China To Become Leading New Energy Vehicle Producer and Consumer
In response to the increasing concerns regarding global warming and oil exhaustion, the next few years will witness a great transition in the vehicle industry, with green vehicles represented by hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and pure electric vehicles (EVs) going to quickly penetrate the world vehicle market. China, the world's largest auto market in 2009, has been taking big steps to promote domestic production and sales of new energy vehicles. Twenty-five Chinese cities have jointed a pilot program to promote energy-efficient and new-energy vehicles. And the Chinese government is expected to issue a plan to spend upwards of $US15 billion over the next 10 years on subsidies to the green vehicle industry. By taking steps like these, China is expected to become a key green vehicle market over the next ten years. |
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