4 Billion Yuan by MIIT to Help Battery Developing of New-energy Vehicle

www.chinaspv.com: Su Bo, deputy minister of Ministry of Industry and Information Technology (short as MIIT in the following), stated at the Summer Davos in Dalian that support policy of new-energy vehicle would continue and the ultimate option for reducing cost of new-energy vehicle depends on technological development. MIIT together with Ministry of Finance would use over 4 billion Yuan to support projects of new-energy vehicle design and battery development.

Apart from what is mentioned above, promotion of new-energy vehicle faces obstacles throughout the world which cannot be resolved in a moment. According to relative documents, Ministry of Finance, Ministry of Science and Technology, National Development and Reform and MIIT were setting 10% market shares taken by new-energy vehicle as the goal of early new-energy vehicle promotional project.

However, the failure of annual goal of new-energy vehicle in 2012 does not influence positive perspectives of increasing automobile industry and consumption.

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