China targets 1 million EVs by 2020

China’s output of electric vehicles is expected to reach 1 million units by 2020, the official Xinhua news agency said, citing Wan Gang, Minister of Science and Technology. Green vehicles are key for the development of China’s auto industry as automobile exhaust emissions already account for 70% of the country’s air pollution in major Chinese cities, Wan was quoted as saying. Over the next 10 years, the Chinese government will invest more than RMB100 billion (around US$15 billion) in subsidizing the country’s industry and infrastructure for environmentally friendly and alternative fuel vehicles. (October 18, 2010)