China to Fund Innovation in Electric Vehicles

15 Oct 2012

China Daily reports that according to the Ministry of Finance, the Chinese Central Government is to provide funding for technological innovation projects in the auto industry. The amount of funding is not yet known.

A statement on the ministry's website says the funding will support ‘new energy vehicles’ including [battery] electric vehicles, plug-in hybrid vehicles and fuel cell vehicles, as well as supporting the development of improved batteries. The aim is to enhance technological innovation capabilities and speed up commercialisation.

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