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China Encouraging Non-Carmakers to Develop EVs
China's central government plans to encourage Internet companies and others outside the traditional auto industry to develop electric cars.
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China's central government plans to encourage Internet companies and others outside the traditional auto industry to develop electric cars.
Industry Minster Miao Wei tells Bloomberg News the intent is to explore new manufacturing models for China's auto industry.
China is promoting EVs and sees their production as one way for the country to create a competitive domestic carmaking industry. Efforts to foster more competitive products from China's traditional domestic carmakers has faltered as consumers continue to flock to locally made foreign brands.
Bloomberg notes that China has required newcomers to the EV business to have their own production capacity in addition to in-house product development and design capabilities. But Miao contends that should not be necessary, since other highly successful companies Apple, for one design products but farm out production to others.
Miao says China is likely to formulate a new policy for EV makers within a few months that will permit new entrants to do the same.
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