China May Implement RMB100 Billion Fund for Electric-Car Chargers (TSLA) (KNDI)

(Updated - August 26, 2014 6:58 AM EDT)

China said to mull RMB100 billion (about $16 billion) fund for electric-car chargers, according to Bloomberg headlines.

UPDATE - Bloomberg noted that the program will be announced soon, but it wasn't made clear whether or not the chargers would be compatible with Tesla Motors (Nasdaq: TSLA) vehicles.

Local electric vehicle manufacturers in China include Warren Buffett-backed BYD Co. and Kandi Technologies (Nasdaq: KNDI).

China's new energy vehicle segment includes EVs, hybrids, and fuel-cell autos. The country has been moving to boost sales of NEVs, with the latest effort being that those vehicles will be exempt from a purchase tax starting in September.

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