According to The Wall Street Journal, Honda CEO Takanobu Ito believes that China's nascent car-buying demographic isn't all that interested in hybrid cars – at least not yet. The emissions story doesn't resonate with them, and certainly not for the higher purchase premium such models usually carry. What they really want, Ito believes, is reliable, affordable cars that fit their needs. When it comes to Honda sales, the numbers would appear to jibe with his thoughts: Honda sold 598,577 vehic
Bloomberg reports China may be set to step up subsidies for hybrid and fuel-efficient new automobiles. The country's industry minister, Miao Wei, said, "New-energy vehicles are the future. Fuel-efficient cars are now," while speaking with reporters at the National People's Congress. So far, the Chinese government hasn't had much luck talking buyers into fuel-efficient models. Last year, the country forecast total electric vehicle sales to reach 500,000 by 2014, but 2012 only saw 13,000 models so
China's third-largest automotive group, Dongfeng Motors, recently announced plans to invest a massive chunk of change into development of alternative technology vehicles. The company's future blueprint shows that Dongfeng will invest three billion yuan ($443 million U.S. at the current exchange rate) in an effort to speed up the commercialization of eco-friendly vehicles like hybrids and electrics.
Jianghuai Auto (aka JAC Motors) is a relatively unknown – at least in the U.S. – Chinese truck and SUV manufacturer that has come forth with huge plans to invest billions to produce a million hybrid and electric vehicles in the near future. JAC Motors announced plans to invest 30 billion yuan ($4.43 billion U.S. at the current exchange rate) to set up a joint venture (JV) with Tianjin Zhengdao Stock Investment & Management Co. The JV plans to build at least one million electric a
A report from the Chinese-based Global Times suggests that the automotive industry in China is about to take a dramatic turn. As reported, Chinese lawmakers are discussing a revamped automotive policy that includes a requirement for all new passenger vehicles to come equipped with hybrid technology beginning in 2012. General manager of Chery New Energy Company, Yuan Tao, said that Chinese officials are currently inking out the details regarding the hybrid technology requirement. An insider from
File this under: spotlight on China. First, General Motors committed to Chinese market-specific hybrids and plug-ins, now Nissan wants in on the action. Case in point, Nissan will release its Leaf electric vehicle in China followed by a possible hybrid Infiniti and, if all goes as planned, the company will break ground on a Chinese production plant, too.