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China: Electric Car Jolts Market

China’s new energy vehicle industry is poised to harness greater opportunities for growth
By Lan Xinzhen
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CURRENT AFFAIRS: A model of an intelligent charging machine is on display in Shanghai to promote use of electric cars (DING TING)

On February 26, Beijing announced the first license-plate lottery results for 2014. On the same day, the municipal government also released the list of new-energy car models subject to consumer subsidy. BYD’s all-electric E6 model and BAIC Motor’s E150EV have become the first two models on the list. That day, 1,428 applicants were picked as eligible to buy new energy cars.

Starting from 2011, the city introduced a license-plate lottery system designed to limit the number of privately owned cars hitting the road each year. According to an announcement by the Beijing Municipal Government, in the future, more new-energy car models will be added to the list of government-subsidized cars available to consumers.

Previously in Beijing, new-energy vehicles were mainly buses, taxis and sanitation trucks, and the number of new-energy cars was very small. A steep rise in users of new-energy cars in Beijing may indicate that China’s new-energy vehicle market is embracing opportunities for development.

According to figures from the China Association of Automobile Manufacturers (CAAM), at present in China, there are more than 30 manufacturers of new-energy vehicles, including both Chinese brands such as BYD, BAIC and JAC as well as joint stock companies of General Motors and Toyota.

The Planning for the Development of the Energy-Saving and New-Energy Automobile Industry (2012-20), which was released by the Central Government, sets a target of producing and selling 500,000 pure electric and plug-in hybrid vehicles by 2015, and 5 million vehicles by 2020.
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