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Business/Finance
See other Business/Finance Articles

Title: China to quadruple new energy vehicle production by 2020: minister
Source: [None]
URL Source: http://en.people.cn/n3/2017/0116/c90000-9167433.html
Published: Jan 16, 2017
Author: staff
Post Date: 2017-01-16 04:56:39 by Tatarewicz
Keywords: None
Views: 493
Comments: 3

(Global Times)

China will quadruple its new energy vehicle annual output to 2 million by 2020, a cabinet minister said.

Citing a government plan, Industry and Information Technology Minister Miao Wei said at a Beijing forum over the weekend that by 2025, at least one in every five cars sold in China will be a new energy model.

In 2016, China produced 517,000 new energy vehicles. The country has been the world's top seller of such environment-friendly cars since 2015. The cumulative sale has exceeded 1 million, according to the ministry.

New energy vehicles include battery electric cars, plug-in hybrids, and fuel-cell cars.

In 2016, top Chinese electric carmakers BYD, Geely, and BAIC sold their models in more than 30 countries and regions around the world.

Miao said the government will continue to improve policies, boost research and development, invest in charging infrastructure construction, and promote international cooperation to help the sector grow.

In terms of charging infrastructure, China built over 100,000 public charging poles in 2016, ten times the figure in 2015. A comprehensive charging grid has taken shape in big cities like Beijing, Shanghai, and Shenzhen.

China witnessed a boom of electric vehicle investment in the past few years largely thanks to government's incentives.

Instead of maintaining a universal incentive system, Miao said, subsidies will vary and favor best performing carmakers before this financial assistance program ends in 2020. By then, a points-based system will be set up to guide the production of new energy vehicles.


Poster Comment:

If more wind and hydro are used to generate electricity then should be less pollution, low price for oil.

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#1. To: Tatarewicz (#0)

All them electric type vehicles must be the reason why Copper has stayed up in price - anyone know of any good cooper mines to buy stock in ? Or the best way to play the coming boom in copper?

Oil is going to go in the crapper - Fuel Cells will be the new oil

sonny  posted on  2017-01-16   18:14:20 ET  Reply   Trace   Private Reply  


#2. To: sonny (#1)

While back bot Teck for Cu, etc. Become a member of Stock Gumshoe and pose your question there:travis@stockgumshoe.com Lots of savvy investor comments there.

Tatarewicz  posted on  2017-01-17   5:11:34 ET  Reply   Trace   Private Reply  


#3. To: Tatarewicz (#0)

It is nice to see China is excelling with energy efficient cars. I wonder if Elon Musk can gather any info to make his Tesla line more efficient? I wonder if that would be considered to be corporate espionage? ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2017-01-22   18:10:27 ET  Reply   Trace   Private Reply  


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