English.chinabuses.com: According to Chinese government policies reveal that the government will support the alternative-energy vehicle sector by promoting the mass production of electric-powered autos in big and medium cities. In the next three years, the government will provide 10 billion Yuan ($1.5 billion) to automakers to help upgrade their technology and develop alternative energy vehicles.

Analysts say the wide-ranging supportive measures will certainly give the auto industry a shot in the arm. From auto association statistics show that a quarter of the 45 Chinese automakers failed to reach even half of their annual sales targets.

Source : english.chinabuses.com

Editor : Wei Yu

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Tags: Government Stimulation Auto