Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

China Minister Says Electric Vehicles Remain Strategic

Don't Miss Out —
Follow us on:

April 22 (Bloomberg) -- China will stick to promoting electric vehicles as the strategic underpinning of policy to upgrade the nation’s auto industry, according to the industry minister.

The government will continue to foster development of the new-energy vehicle industry and improve tax and fiscal policies to support its development, Miao Wei, minister of industry and information technology, said at an auto forum in Beijing today.

Miao’s comments follow those by Vice Premier Ma Kai, the highest-ranking Chinese official overseeing energy issues, who said last month that the government will study and support subsidy policies for hybrids. Hybrid models, which run primarily on a gasoline engine with a backup battery, currently don’t qualify for the same state incentives as EVs.

China is promoting electric cars to reduce the nation’s reliance on fuel imports and to ease air pollution by cutting vehicle emissions. Consumers have been reluctant to switch to EVs in China because of reliability concerns and a lack of charging infrastructure.

To contact Bloomberg News staff for this story: Tian Ying in Beijing at ytian@bloomberg.net

To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net Chua Kong Ho

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.