China plans to build charging stations for 5 million electric cars

ArabiaWeather.com- Having provided subsidies and tax rebates to encourage the purchase of new energy vehicles in order to reduce emissions and save energy in the country, China has announced plans to build a network of charging stations that will provide energy for 5 million electric cars by 2020.

The network will cover residential areas, commercial areas, public places and intercity highways, and there will be at least one charging station for every 2,000 new energy vehicles, according to the plan.

The government encouraged private investment, allowing pole manufacturers to issue corporate bonds and seek investment from pension funds to fund the project.

New energy vehicle sales increased 270 percent to 108,654 units in the first eight months of this year, according to the China Association of Automobile Industry.