Trade Resources Company News Beijing to Invest Hefty Amount for New-Energy Cars

Beijing to Invest Hefty Amount for New-Energy Cars

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.

Source: http://greenpowertrain.automotive-business-review.com/news/beijing-to-invest-hefty-amount-for-new-energy-cars-100815-4643208
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