Headlineauto has reported that China’s central government will consider proposals later this month that could make the country the world’s largest market for alternative energy vehicles by 2020.
Local reports are said to suggest that one part of the 10-year plan would see Beijing invest around 100 billion yuan (about £9.2bn) into the industry. The money would support the development and sale of alternative energy vehicles.
In June, China’s National Development and Reform Commission said it was looking at subsidising the purchase of at least four million alternative energy vehicles by 2012.
The programme is currently being tested in selected cities where buyers can get rebates of up to the equivalent of £4,600 on plug-in hybrids and £5,100 on all-electric vehicles.