China sets big electric-car goal

Beijing to prepare at least 10 million

car parking spots for electric cars by 2020,

a top executive at a Chinese automaker said

1 Million electric cars by 2020

10 Million charging spots by 2020

China's Minister of Science and Technology was quoted by state-owned Xinhua news agency in October as saying the country's production of electric vehicles could reach 1 million units by 2020, when many expect a total new-vehicle market of 40 million.

Consumers can now get incentives worth 120,000 yuan ($18,170) to purchase an electric car in 10 to 20 cities, Wang said.

$1 = 6.6 Yuan

source: reuters.com

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