The Chinese government may spend as much as $16 billion to fuel the growth of electric vehicles and development of charging stations.
More state funding could help automakers tamp down concerns over the price, reliability and convenience of their electric vehicles, according to Reuters.
It may be good news for Tesla Motors, which has targeted China for a major role in its future growth. Tesla reportedly has a good relationship with the Chinese government and demand for its vehicles in the country is high, CEO Elon Musk said in last quarter’s earnings call. However, a lack of services and infrastructure has limited demand there.
People familiar with the China’s plans declined comment on the whether the stations would be equipped to recharge Tesla electric vehicles specifically.
The push by China could also signal efforts by the world’s biggest carbon emitter to curb pollution, Bloomberg reported. An announcement on the new policy is expected soon.
Source: http://www.bizjournals.com/sanjose/news/2014/08/26/china-may-throw-16b-behind-electric-vehicle-growth.html
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