Xinhua reports that the Chinese Ministry of Transport (MOT) is targeting 300,000 new energy vehicles on China’s roads by 2020: 200,000 new energy buses and 100,000 new energy taxis and city logistics delivery vehicles.
China will create a favorable environment to foster quicker growth in the new energy vehicle sector through intense government-led promotion, according to the new MOT guideline.
Among measures to be undertaken will be the continued construction of charging facilities and tax exemptions and subsidies for car purchases.
Buyers of qualified pure electric cars, plug-in hybrid electric cars and fuel cell cars will not have to pay the vehicle purchase tax until the end of 2017, according to the MOT.
China’s new energy vehicles production jumped fourfold year on year to 83,900 vehicles in 2014, according to data from the Ministry of Industry and Information Technology.