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WORLD> Photo
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Global auto glitz revs up in Shanghai auto show
(Xinhua/Agencies)
Updated: 2009-04-20 22:00
The Shanghai auto expo has also been eyed by China's domestic automakers as a platform to compete with their foreign counterparts, said Wang Xia. Geely, the largest independent Chinese automaker, is displaying 22 car models, and another home player, Chery, is also having a massive displays of 24 models. Domestic carmakers including Geely and BYD announced earlier that they would unveil new-energy vehicles at the show. New-energy autos are electric or electric-hybrid vehicles. Miao Yu, vice minister of Industry and Information Technology, said on Sunday that the Chinese government will allocate 10 billion yuan (US$1.46 billion) to boost technology innovation in the domestic automobile industry, which is part of a comprehensive plan to enlarge new-energy auto production. According to the plan, China will have annual production capacity of 500,000 new-energy vehicles by 2011, which means 5 percent of new vehicles should be powered by new energy. |
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