Seen in FastCompany.com BY Ariel Schwartz Thu Aug 19, 2010
China, that contradictory land of coal, smog, and renewable energy, may be on the verge of leadership in another green technology sector: electric and hybrid vehicles. The Chinese government announced today a plan to invest up to $15 billion in a state-run venture that will research, develop, and generate standards for upcoming hybrids and EVs. The venture will also put millions of electric cars on the road in the coming years, according to The New York Times.
The news will come as no surprise to anyone who follows the Chinese vehicle market. GM recently teamed up with Chinese state-controlled automaker SAIC to develop fuel-efficient engines and transmissions, for example, and we declared Chinese car company BYD as one of our Most Innovative Companies this year. Read full story.