Beijing to convert 70,000 taxis to electric vehicles
Under a new air pollution control program to be implemented in Beijing, Tianjin, Hebei and their surrounding areas later this year, all newly registered taxis in Beijing will become electrical. According to National Business Daily, the transition to electric cars is expected to cost around 9 billion yuan, and could be an effective measure against local air pollution.
This move can be seen in the greater light of the Chinese government’s ambitious target of becoming a global frontier of electric vehicles. As noted by Electrek, a news site tracking the transition from fossil fuel transportation to electric, China has become the world’s largest electric vehicle market with an estimated fleet of over 600,000 electric cars. This is more than the American and European markets combined.
In late 2016, the National Development and Reform Commission and the Ministry of Commerce announced that they will further open up the new-energy-vehicles and the automotive-electronics market-segments to foreign investment. The aim of this is two-folded; to attract foreign investment and expertise, and to enhance domestic innovation and improve the quality of domestic battery manufactures.
With these announced changes in mind, the potential business opportunities in the Chinese electric vehicle market are huge.
*Featured image: China Daily Europe, 2015