China seen laying down 100b yuan bet on electric vehicles

Beijing

CHINA has found electric cars a tough sell even after lavishing consumers with subsidies and privileges. After almost certainly failing to meet a target to have half a million of such vehicles on its roads by year end, its next act is to achieve a 10-fold increase by the end of the decade.

The electric vehicles in service will fall about 26 per cent short of its year-end target, according to estimates from the science ministry and state-backed car association. To meet its 2020 goal of five million EVs, the government will speed up the construction of charging stations, reducing a major inconvenience for urban residents who don't have personal garages to charge their cars.