Earth Equity News

China Announces Goal of Building 1 Million Electric Vehicles a Year by 2020. By Fang Yan, Reuters, 10/16/10. “China's output of electric vehicles is expected to reach 1 million units by 2020, the official Xinhua news agency said on Saturday, citing a senior government official. Green vehicles are key for the development of China's auto industry as auto exhaust emissions already account for 70% of the country's air pollution in major Chinese cities, Wan Gang, Minister of Science and Technology, was quoted as saying. Wan did not project the country's overall vehicle output by 2020. Vehicle sales in China, now the world's biggest auto market is expected to top 17 million units this year… Beijing launched a pilot program in June to hand out rebates to electric and hybrid car buyers as its stepped up its efforts to cut emissions. Maximum subsidies for electric car buyers is 60,000 yuan ($9,036). [The U.S. will offer a $7,500 tax credit for electric cars.]”