Shanghai, April 27 (Gasgoo.com) China will speed up its research and development (R&D) and commercialization of the eco-friendly new-energy vehicles, said a sci-tech official recently, xinhuanet.com reported today.
China's auto industry is also facing energy, environmental and financial challenges, which make it urgent for China to develop alternative energy vehicles, said Wan Gang, minister of Science and Technology, at the groundbreaking ceremony of Wanxiang Group's electric car and lithium battery production base in east China.
As part of the auto industry stimulus plans unveiled earlier the year, the Chinese government started on January 20 to cut the purchase tax on low-emission cars with engines of 1.6L or below, subsidize auto purchases in rural areas and promote sales of eco-friendly new energy vehicles, which have effectively stimulated auto sales in the first quarter.
The auto sales recovery shows that the market is in favor of a clean development of auto industry, according to the minister.
Based in Hangzhou city, capital of east China's Zhejiang province, Wangxiang Group is a giant auto-parts manufacturer, also the only enterprise producing both key parts and powertrain systems for electric vehicles in China.
Its production base, also a trial operation base for new energy vehicles, has got another investment of 1.365 billion yuan ($200 million), with annual capacity of 1,000 commercial electric vehicles and one-billion-watt-hour lithium batteries by 2010.
Gasgoo: auto parts source
