The Chinese State Council announced, in a statement released on April 18th, that the government would further strengthen its support of China’s electric vehicle industry. The updated EV support plans will emphasize technological innovation, strengthening pilot demonstrations, as well as the establishing charging infrastructure and a system for the recycling of used batteries.

While details regarding the practical measures employed in this program have yet to be released, industry analysts have praised the recent update for firmly establishing the state’s role in the development of the industry. The release of an updated support plan comes at a crucial period in the nascent EV industry’s development as many European and American automakers have begun to reduce investment in the industry and defer EV development to a point in the future when consumer demand is more readily able to support the considerable investments necessary to develop EV technology.

Source: Bloomberg report

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State Council statement (in Chinese)

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