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People's Daily Online>>China Business

Blueprint for new-energy auto industry approved


13:36, April 19, 2012

The State Council, or China's cabinet, said on Wednesday that the country will move more quickly to develop its energy-saving and new-energy vehicle industry to ease pressure on resources and the environment.

Purely electric vehicles will be prioritized in the transformation of China's auto industry, with the current focus falling on the industrialization of electric and hybrid vehicles, according a statement released after a State Council executive meeting presided over by Premier Wen Jiabao.

The meeting approved a development guideline for the energy-saving and new-energy car industry.

It is hoped that China's accumulative output of electric and hybrid vehicles will reach 500,000 units by 2015 and 5 million by 2020, the statement said.

China overtook the United States to become the world's largest auto market in 2009 after selling 13.64 million vehicles that year. Both car sales and production volume witnessed astonishing growth in 2009 and 2010 before slowing to a 2.4-percent growth rate in 2011 with the conclusion of related stimulus policies.

The country still remains the world's largest auto market, although in the first quarter of this year, sales fell slightly year-on-year due to a high comparison basis and surging oil prices, according to data released by the China Association of Automobile Manufacturers (CAAM).

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