China ready to spend $16 Billion on charging stations for electric cars

China is considering providing as much as $16 billion in government funding to build electric-vehicle charging facilities and spur demand for clean cars, according to two people familiar with the matter.

The policy will be announced soon, said the people, who asked not to be named because the discussions are private. The people declined to provide further details of the plan such as how long the program would last or whether the chargers would be compatible with cars made by Tesla Motors…

Increased state funding would be a tailwind for carmakers coping with consumer concerns over the price, reliability and convenience of electric vehicles. It would also build on the tax breaks announced by China, the world’s biggest carbon emitter, to fight pollution and cultivate its local EV industry, which includes BYD Co. and Kandi Technologies Group…

Among recent government initiatives, China will exempt new-energy vehicles — defined as electric cars, plug-in hybrids and fuel-cell vehicles — from a purchase tax starting next month, and has ordered government departments to buy such vehicles for their official fleets.

Supporting a strategic and emerging industry like new-energy vehicles is a “win-win” for industrial development and environmental protection, the central government said last month in the statement announcing the waiver of the purchase tax. Developing new-energy autos is important for spurring innovation, promoting energy savings and reductions in emissions, and will help to drive domestic demand and nurture new avenues of growth, according to the notice.

Chinese governmental departments target a minimum of plug-in vehicles to 30% over the near term.

Let’s see. I’ll go peek at what the United States target is. Golly – a million EV’s on the road in another decade. Based on federal tax breaks for consumers.

There is a grouping of eight Democrat-dominated state legislatures collectively aiming for over three million electric vehicles and plug-in hybrids on the road in the same sort of timeframe. Triple the federal goal!

Oh, that’s right. There’s a clot of bought-and-sold politicians in the way of any such national spending. It’s called Congress. Stuffed full of cowards and decrepit ideologues.

7 thoughts on “China ready to spend $16 Billion on charging stations for electric cars

  1. Flashback says:

    “Qian Long: Letter to George III, 1793 http://www.fordham.edu/halsall/mod/1793qianlong.asp
    Qian Long [Ch’ien Lung], (r. 1735-1795) ruled China for much of the 18th century, the last period in which China was strong enough to resist, or better, disdain external influence. Here is the letter he sent in response to a request from George III of Britain (r. 1760-1820) for trade privileges. In 1793, while Britain was in the midst of the French Revolutionary situation in Europe, China retained its freedom to act as it wished. But within 50 years, all was to change. By the 1840s the British were able to sail into China’s rivers and destroy its fleets.” See also the First Opium War (1839–42) http://en.wikipedia.org/wiki/First_Opium_War

  2. Ka-Ching! says:

    SHANGHAI: US electric carmaker Tesla Motors said on Friday that it would partner with China’s No.2 mobile carrier China Unicom to build charging outlets across the country to push sales in the world’s biggest auto market. http://articles.economictimes.indiatimes.com/2014-08-29/news/53362625_1_china-unicom-tesla-motors-elon-musk
    “The move sent Tesla’s shares up to a new record Friday. Shares rose 2.44% Friday to $270.25.” http://online.wsj.com/articles/tesla-in-deal-with-china-unicom-to-add-400-charging-stations-in-china-1409332863

    “…Perhaps the best analogy for the market potential of China’s new middle class is the late 20th-century heyday of the 76-million-strong Baby Boomer generation here in the U.S. — except that the scale of China’s new consumer culture is much larger. “A lot of companies in the United States got tremendous benefits from the Baby Boomer demographic transformation. The transformation of the middle class in China makes the Baby Boomer generation pale,” {Royal Caribbean International Chairman and CEO Richard Fain}.
    Within the next 10 years, economists project 630 million mostly urban middle-class Chinese, more than eight times the number of American Baby Boomers. According to McKinsey & Company, by 2022 the middle class will make up 75% of China’s urban population, compared to 4% in 2000.”

    “Why Royal Caribbean Is Sending Its Coolest Ship to China” http://www.nasdaq.com/article/why-royal-caribbean-is-sending-its-coolest-ship-to-china-cm379186

  3. Miss American Pie says:

    General Motors Co. expects its sales in China this year to top 3.1 million units and sees no impact on business from an anti-monopoly probe of the industry, the automaker’s China unit President Matt Tsien said Wednesday http://www.chron.com/business/article/GM-says-China-sales-this-year-to-top-3-1-million-5776629.php?World_Business_News= …Last year’s sales grew by 11.4 percent over 2012. China’s auto market has cooled as the economy slowed this year, with sales growth tumbling from 13.9 percent in May to 8.5 percent in August. During 2013 GM sold a total of 2.8 million vehicles in the United States and 9.7 million globally https://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2014/Jan/gmsales.html

  4. hāhā says:

    “BMW Group and the biggest Chinese SUV brand, Great Wall Motor, announced a partnership Tuesday to produce electric MINI vehicles in China as global automakers ramp up development under pressure from Beijing. The companies said they signed an agreement Monday during an event in Berlin attended by Chinese Premier Li Keqiang and German Chancellor Angela Merkel.” https://www.postandcourier.com/automotive/bmw-to-make-electric-minis-in-china/article_c6df3d5e-844a-11e8-bdda-b74cb068d8d1.html “Auto brands in China are required to make electric vehicles at least 10 percent of their sales starting next year or buy credits from competitors that exceed their quotas. Later, they face pressure to raise those sales in order to satisfy fuel efficiency requirements that increase annually.
    Sales of pure-electric passenger vehicles in China rose 82 percent last year to 468,000, according to an industry group, the China Association of Automobile Manufacturers. That was more than double the U.S. level of just under 200,000.
    Other automakers including General Motors Co., Volkswagen AG and Nissan Motor Co. have announced similar plans with Chinese partners to produce dozens of electric models.
    Great Wall, headquartered in Baoding, southwest of Beijing, sells more than 1 million SUVs a year.”

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