The number of new energy cars sold in China this year may hit 35,000, double than that were sold in 2013, in the wake of government promoting the use of greener vehicles in the country, a new official forecast has revealed.
According to a report on China's auto industry released Tuesday by the China Association of Automobile Manufacturers (CAAM), sales may reach 60,000 if hybrid-power vehicles are taken into account, Xinhua reported.
The Chinese government launched a trial programme to subsidize new energy car purchases in several major cities in mid 2010.
The finance ministry and another three government organs initiated a plan to promote new energy vehicle use last year and renewed the policy in February by raising the subsidies for 2014 and 2015.
Data from the CAAM showed that 17,642 new energy cars were sold in China last year, up 37.9 percent from a year ago. In the first quarter of 2014, sales surged 120 percent year on year to 6,853 cars.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
