China to spend 2 billion yuan annually to develop alternative-energy vehicles

Article by Anita Panait, on May 29, 2012

The Chinese government will invest up to 2 billion yuan yearly to develop alternative-energy vehicles aimed at cutting fuel usage, Vice Finance Minister Zhang Shaochun said in a statement. The Chinese government will also promote the use of buses powered by hybrid engines in major cities in the country. 

According to Zhang, the government will also encourage agencies and companies providing public services, like car-rental firms, to use alternative-energy vehicles in 25 trial cities. It is projected that the vehicle population in China will triple by 2020, thus increasing the country’s demand for fossil fuel and worsening its air pollution.

China is currently the world's second-largest importer of oil next to the United States, buying more than half of its crude oil needs from abroad.  Air quality in all 32 cities in China that track pollution has failed to reach World Health Organization standards. In fact, Beijing is considered as one of the most polluted cities in the world.

The Chinese finance ministry wants cities to excuse alternative-energy vehicles from restrictions imposed on the issue of license plates as well as from restrictions that limit the use of cars on certain days. The ministry also urged municipal authorities to introduce preferential policies for parking, electricity rates and highway tolls, while accelerating the building of charging stations.

If you liked the article, share on:

Topics: china

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries