27 Aug '14, 7pm

China is about to make a really big bet on electric cars (100 billion yuan!)

China is about to make a really big bet on electric cars (100 billion yuan!)

Any way you slice it, a hundred billion yuan is a lot of moolah (equivalent to about 16.3 billion US dollars at today's exchange rate). That's the amount that China is supposedly about to invest into electric vehicles and the infrastructure to support them, like public charging stations, according to "two people familiar with the matter", says Bloomberg. If true, this is great news. While we wish that most people would simply walk , bike , or take mass transit , the fact remains that there are lots of cars and trucks on the road, and as long as that's the case, going electric is the best option. BYD/Promo image This big investment by China would be great because it would help break the logjam and get things started. There's always been a chicken-egg problem with electric vehicles; you need charging stations before people feel comfortable buying EVs, but if nobody has EVs, ...

Full article: http://www.treehugger.com/cars/china-about-bet-big-electr...

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