Chinese state media reports country will speed construction of EV charging facilities
Get Alerts BLNK Hot Sheet
Join SI Premium – FREE
Chinese state media reports Friday, quoting the nation's cabinet, that the country will speed up the construction of charging facilities for new energy vehicles (NEV) such as electric cars, and improve policies for purchasing and using them.
The government is studying policies to promote auto consumption and support modernization as China's NEV market faces challenges of weak domestic demand, Xin Guobin, vice minister at Ministry of Industry and Information Technology, said last month.
The cabinet, or State Council, has approved plans to speed up the development of advanced manufacturing clusters, state media reported.
Improved charging infrastructure for new energy vehicles will help unleash the potential of rural consumption and support growth of rural tourism, adding new impetus to rural revitalization, the cabinet was quoted as saying after a regular meeting.
Developing such clusters will be vital for steering China's industries towards innovation, and will help enhance the resilience and safety level of the country's industrial supply chains, the cabinet said.
By Michael Elkins | [email protected]
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
- Oppenheimer sees little strategic case for Tesla-SpaceX merger
- Farmers & Merchants Bancorp appoints Jehna Silva to board of directors
Create E-mail Alert Related Categories
Corporate News, General News, Hot ListRelated Entities
Michael ElkinsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share