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China plans $16 billion funding on electric-vehicle chargers

2014-08-28 13:37 CRIENGLISH.com Web Editor: Gu Liping

China is planning to enhance electric-vehicle charging infrastructure with government funding of up to 100 billion yuan (about US$16.26 billion), Bloomberg News reports.

The report cites people familiar with the matter as saying that the decision will be announced soon. However, the sources declined to provide further details as the discussions are private.

It is unclear whether the new chargers will be compatible with cars made by Tesla Motors.

Charging infrastructure is among many obstacles for the electric-vehicle industry, according to BYD chairman Wang Chuanfu. BYD is a leading new-energy car maker in China.

Increased government funding on electric-vehicle charging facilities is expected to strongly boost the clean car sales, and help China cope with pollution, according to Bloomberg News.

China has recently introduced some favorable policies for new-energy cars. In July, the central government announced a waiver of a 10 percent purchase tax for new-energy vehicles, excluding them from the levy beginning September 1 to the end of 2017. Also, the central government has set a target for electric cars to make up at least 30 percent of government vehicle purchases by 2016.

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