China’s annual production of clean energy automobiles, including electric cars, hybrid energy vehicles, hydrogen fuel cell cars and solar cars, will increase to 15 million units by 2020, a Chinese newspaper said on Tuesday (August 10, 2010).
According to the Shanghai-based Xinmin Evening Post, China’s Ministry of Industry and Information Technology (MIIT) has worked out a blueprint for the nation’s new energy car industry in the next ten years. MIIT will soon submit the blueprint to the nation’s State Department for final approval.
China will be the Largest Clean Energy Cars Market in the World
China has become the largest automobile market in the world. According to the China Association of Automobile Manufacturers (CAAM), the nation’s total output of automobiles reached 13.79 million units in 2009, increasing 48.3 per cent from the 2008 level. CAAM also forecasts that the nation’s output of vehicles will increase more than 20 per cent to 16.5 million units in 2010.
Read more at Suite101: China will Produce 15 million Green Energy Cars in 2020
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The booming automobile market has significantly increased China’s energy consumption and pollutant emissions. To prevent energy shortage and protect environment, the Chinese government decides to invest more than 100 billion yuan, or over 14.8 billion US dollars, to subsidize the nation’s production and consumption of environmentally friendly cars between 2011 and 2020, according to the Xinmin Evening Post report.
The government’s green car plan also includes the subsidies to the domestic manufacturers of car engines and automotive batteries. According to the MIIT, China will have three to five big-scale green car producers and two to three leading car engine and battery producers by 2020.
Chinese Investors Move to Clean Technology Car Industry
China’s ambitious green car plan has attracted the attention of carmakers and investors. For example, Chinese auto maker Jianghuai Automobile Co., Ltd. (Jianghuai Auto) has planed to produce one million units of green cars through a partnership with a private investment company, a Chinese web site said on Tuesday, August 10, 2010.
According to the Shenzhen-based Tencent, Jianghuai Auto will set up a 50-50 join venture with the Far East Golden Resources Group (Far East). The new venture will totally invest more than 2 billion yuan, or up to 30 billion Chinese yuan (4.4 billion US dollars), on the production of clean energy vehicles for the Chinese market in the next eight years.
The join venture will be located in China’s northern city of Tianjin, and will also produce car engines and batteries, according to the report.
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