China May Give Electric Cars, Hybrids $15 Billion Jump Start, News Reports

China may invest more than 100 billion yuan in the alternative-energy vehicles industry during the next 10 years, the Shanghai Securities News reported today, without citing anyone.

The Ministry of Industry and Information Technology has completed drafting a development plan for the alternative energy vehicle industry covering the period from 2011 through 2020, the newspaper reported. The ministry may submit the plans to the State Council for approval this month after first seeking feedback from other ministries, the newspaper reported.

To contact the reporter on this story: Jian Guo Jiang in Shanghai at jjiang@bloomberg.net

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