China to set up R&D alliance for alternative-fuel vehicles

The Chinese government has confirmed that it plans to set up an alliance between major automotive, oil, and power companies to promote the research and development (R&D) of alternative-fuel vehicles and associated technologies. The alliance will invest more than 100 billion yuan (US$14.7 billion) between 2010 and 2020 in promoting the development and adoption of alternative-fuel vehicles in the country. The Ministry of Industry and Information Technology’s (MIIT) 10-year plan will be guided by the state-owned Assets Supervision and Administration Commission of the State Council and will include 16 manufacturers and research institutes, including major automakers FAW, Dongfeng Motor, and Changan Automobile Group. (August 19, 2010)