China's New Energy Car Industry Sees Boost Amid Government Support

Strategic Insights -

China's new energy car industry is gaining momentum with the domestic fuel tax reform and government support, paving the way for large-scale commercialization. At least eight Chinese automakers are actively researching and developing new energy systems, with many already producing new energy cars. BYD's launch of its first mass-produced plug-in hybrid car, F3DM, has garnered international attention, and the government aims to see energy-saving and new energy cars account for 10 percent of China's new car output by 2012.

Key Takeaways:

  • Eight Chinese automakers, including Shanghai Automotive Industry Corporation (SAIC), First Automobile Works (FAW), Dongfeng, ChangAn, Chery, Geely, BYD, and Great Wall, are actively researching and developing new energy systems.
  • At least four automakers, Chery, ChangAn, Geely, and BYD, have already begun mass-producing new energy cars.
  • BYD launched its first mass-produced plug-in hybrid car, F3DM, in mid-December, and the government aims to see energy-saving and new energy cars account for 10 percent of China's new car output by 2012.
  • The National Development and Reform Commission (NDRC) is mulling over a plan to boost China's auto industry, which includes support for new energy cars, especially electric cars.
  • The Ministry of Science and Technology and the Ministry of Finance plan to provide price subsidies to large-scale demonstration projects for buying new energy cars.
  • Different automakers are taking different paths in the development of new energy cars, with some focusing on hybrid cars, others on electric cars, and a few on fuel cell cars.

Statistics:

  • Eight Chinese automakers are actively researching and developing new energy systems.
  • At least four automakers have begun mass-producing new energy cars.
  • BYD launched its first mass-produced plug-in hybrid car, F3DM, in mid-December.
  • The government aims to see energy-saving and new energy cars account for 10 percent of China's new car output by 2012.
  • The Ministry of Science and Technology and the Ministry of Finance plan to provide price subsidies to large-scale demonstration projects for buying new energy cars.

Sources:

  • "New energy cars to take 10 percent of China's new car output by 2012" by XIC (no date listed in original text)
  • "China plans to boost auto industry with new energy car support" by XIC (no date listed in original text)
  • "Chinese government encourages research on different power sources" by XIC (no date listed in original text)