China Wants to Rev Up Green Vehicles
China is trying to incorporate more green cars onto its highways. And as part of that plan, it is now reviewing 207 such vehicles, reports Reuters. The Ministry of Industry is considering the applications, which are eligible to receive a subsidy as well.
Among the cars it is considering are all-electric and plug-in hybrid. The government has already given its approval to more than 100 alternative brands.
China is on a mission to cleanse its air, which has so many pollutants that people walk around with mask over their mouth and noses. To that end, it has started to penalize companies that run afoul of its laws. And it ha allocated billions toward a renewable energy campaign.
But according to Reuters, sales of battery electric and plug-in hybrid vehicles plunged 74.4 percent in January because companies had to reapply for subsidies for each vehicle model.
China has said it recognizes its role in the global economy and is committed to reducing its carbon emissions.
It relies largely on coal to power its economy. But domestic and global environmental pressures are forcing it to look at other options that include nuclear energy and hydro-power. To get there, it needs a heck of a lot more foreign participation. By its own standards, China needs to attract $200 billion in private capital by 2030, and will require trillions overall in 20 years, says the International Energy Agency.
The United States and China, together, produce about 42 percent of all greenhouse gas emissions. In this country, totals are falling because of the coal-to-gas transition. But in China, they are rising, largely because it is building one coal generator a month. Still, last week the country said it would invest $361 billion into renewable power generation by 2020, says the Reuters report.