The Beijing Government in China is taking a call on investment worth tens of billions of yuan to bolster its alternative energy auto sector as part of a national strategy for coordinated development of Beijing-Tianjin-Hebei area.
Currently, there are over 90 manufacturing enterprises in Beijing for pure electric vehicles, generating sales revenue worth more than US$2.6bn, according to Want China Times, quoting a report by Economic Observer.
The government will also introduce new measures to boost alternative energy car market such as tax breaks and incentives and it is currently conducting a study on the feasibility of issuing license plates for imported vehicles.
Beijing-based alternative energy automobile industry association vice-chairman Zhao Jingguang said the present dispensation was engineering its industry development for alternative energy-related and high-technology industry.
The initiative to pump in such amount is expected to augur well for the development of new-energy car manufacturing enterprises in Beijing, which also include spare parts manufacturers.
