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Why China May Save The Electric Car

Posted by keelynet on December 7, 2008

Let the car companies and other badly run companies all go bankrupt, they won’t go away, just have to restructure and optimize planning and efficiency.

“GM sees China as being among the first markets and production sites for alternative propulsion systems and will continue working to advance its strategy of “in China, with China, for China” to help the country develop diverse automotive energy solutions and commercialize such energy solutions, David S. Chen, vice president of GM China Group, said last week. Recession or no recession, Asia’s emerging economies will be buying a massive number of automobiles in coming decades. Odds are, the lion’s share of them will run at least partially on electricity. At least that’s what investors and manufacturers, from GM to Warren Buffett, think. In 2006, China had about 160 million motor vehicles. By 2050, it will have nearly 700 million, or almost three times the number of registered vehicles currently in the U.S. n early 2007, China launched the so-called “863 Initiative,” which initiated multiple electric vehicle research and development projects by universities, research institutes and companies. In August, China said it would begin developing a large-scale demonstration project in 10 or more cities to put at least 1,000 hybrid, fuel-cell and all-electric vehicles on the road in each of those cities and provide the necessary infrastructure for the project.” – Source

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