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Shanghai will spend CNY30 billion (NZD$6.1 billion) on making electric and hybrid eco-friendly vehicles by 2012, according to an article in the Shipping Gazette citing Xinhua news.

China will also will install 25,000 stations to recharge the electric motors, said Wang Zhe, an official from Shanghai’s new energy automobile promotion office at the International Forum on Chinese Automobile Industry Development in Tianjin.

“With government support in purchasing, R&D and infrastructure, Shanghai will be able to produce 100,000 new energy vehicles every year, including 60,000 passenger vehicles by 2012. About 20,000 of them will be for private use,” Wang said.

More than 2.43 million vehicles had been registered in Shanghai at the end of 2009. The number of private vehicles in Shanghai has been increasing by 20% annually since 2006.

The Jiading District of Shanghai, a major automobile manufacturing centre, is working to become a leader in manufacturing new eco-vehicles in China, said deputy district head Fei Xiaomei. China aims to develop as the world’s largest new eco-vehicle market by 2020 with five million cars. It also plans to export more than 15 million fuel-efficient vehicles annually. – Source: Shipping Gazette

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