China readies 10 million EV parking slots by 2020

The Chinese government is looking to prepare at least 10 million car parking slots for electric vehicles (EVs) by 2020 in a new comprehensive policy due to be announced soon, according to Wang Dazong, president of Beijing Automotive Industry Holding Co. (BAIC). Another industry executive said Beijing is expected to focus its efforts mostly on pure EVs, as opposed to gasoline-electric hybrids or hydrogen fuel-cell vehicles. China’s Minister of Science and Technology was quoted by state-owned Xinhua news agency in October as saying the country’s production of electric vehicles could reach 1 million units by 2020, when many expect a total new-vehicle market of 40 million. The government is due to unveil a new alternative energy plan within months to raise its targets for power generating capacity from such sources by 2020. China is planning to invest up to US$1.5 trillion over five years in seven strategic industries. (January 14, 2011)