China’s government is considering proposals to invest around 100 billion yuan (£9.2 billion) into the alternative fuel vehicle market.
According to local media reports, the country’s central government wants to place China as the world’s leading market for alternative-energy vehicles by 2020.
The fund would form just one part of a ten-year plan to promote the market for such vehicles and develop production.
According to news agency, Headlineauto, back in June, China’s National Development and Reform Commission said it was looking to subsidise the purchase of at least four million alternative-energy vehicles by 2012. The programme is being tested in selected cities where buyers can get rebates of up to the equivalent of £4,600 on plug-in hybrids and £5,100 on fully electric vehicles.
