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Yesterday, the ten companies, including Shanghai Automotive Industry Corporation (Group), China FAW Group Corporation, Dongfeng Motor, Chang'an Automobile (Group), Guangzhou Automobile Group, Beijing Automotive Industry Holding, China National Heavy Duty Truck Group, Brilliance Auto, Chery Automobile, and Anhui Jianghuai Automobile, inked the program of action for China's EV industry Development.
In order to jointly clear away different obstacles amid the new energy vehicle industrialization, they formed an EV industry alliance in July 2009, striving for an annual production capacity of 500,000 pure EVs as well as rechargeable and common HEVs (hybrid electric vehicles).
Presently, China's EV industry is confronted with the scarce R&D capacity and too much production costs, and the quality of related parts is unstable, said an insider.
Source: www.cnstock.com (October 15, 2009)
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