CHINA RELEASED NEW POLICIES TO ACCELERATE HYDROGEN VEHICLE SALES | AUTO INDUSTRY NEWS|AUTO REPORTER
China is among the world's biggest Automobile markets, and they released New Policies to accelerate New Energy vehicle sales. The previous policies were released in September 2017. Now after china's many ministry's bunches of efforts, the New Policies are rolled out in 2020. On Monday, China's Finance Ministry said, "This fresh policy to support hydrogen fuel cell vehicles to improve the industry's supply chain and technologies."
China is also a big market for New Energy Vehicles, comprising Plug-in-Hybrid vehicles, Battery electric vehicles, and Hydrogen fuel cell vehicles. The previous policies to Help NEV makers had provided subsidies on sales. The newly released policies will require Local Governments and Companies to make a Grown Supply chain and business model for the industry.
The Local Government and Companies need to prove that their joint projects can lower the price of Hydrogen fuel, increase the Hydrogen charging station, Enlarge Hydrogen fuel cell vehicle fleets and improve related technologies, according to the Document.
The Chinese ministry said, "Authorities will offer rewards to the projects after assessing these key performance areas."
The Global automakers as Toyota Motors and Hyundai Motors, have already declared Launch plans for Hydrogen vehicles in China.