Under the 12th Five-year Plan for China's auto industry, developing new-energy vehicles will become the foremost priority over the next five years and the country aims to achieve annual new-energy automobile sales of 1 million units by 2015, according to the China Association for Automobile Manufacturers.
Under the plan, China will update the new-energy vehicle sector by focusing on integrating the two major technologies of electric vehicles and hybrid electric vehicles. The first draft of the 12th Five-year Plan for China's automobile industry has already been formulated and the formal plan is scheduled to be released at the end of 2010.
According to the recently-issued "State Council's Decision to Accelerate the Development of Strategic Emerging Industries," the total added-value of know-how-intensive, resource-efficient strategic emerging industries should account for 8 percent of China's GDP. The new-energy automobile industry and other new strategic industries will play a leading role in the country's economy in 10 years.
The Ministry of Industry and Information Technology recently said China will invest more than 100 billion yuan over the next 10 years to support new-energy automobile production in order to make China the world’s largest new-energy automobile production country.
