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Japan has decided to end a government subsidy program to encourage purchases of environmentally friendly cars as funds dwindle. According to the Ministry of Economy, Trade and Industry, the government only has ¥2.5 billion (US$32 million) left of the ¥274.7 billion (US$3.5 billion) allocated for the program.
With few of us having the cash or credit to buy an expensive new addition, the bottom seems to have fallen out of the automotive industry which has been plunged into crisis. It seems a spark is needed to get us back to the showrooms – so are the leading manufacturers right to put their faith in greencars? Averting a slump.
The global automotive industry is receiving close to US$44 billion from governments around the world to develop alternative fuel technologies, analysts at Deloitte reveal. The market for alternative fuel vehicles is being strongly supported economic stimulus packages and other government programs in at least 13 markets.
“Measures aimed at spurring innovations that will increase the electrification of road transportation, such as those announced today, are to be welcomed as extremely good news for the auto industry as well as for society. .
Similarly, in China, the sheer size of the auto industry and the country’s ambitious clean-energy goals suggest a potentially huge market for electric cars. In March, BYD chief executive officer Wang Chuanfu announced that in the first half of 2010 the company will sell only 100 e6 cars, to a taxi company in Shenzhen.
If you listen to US President Barack Obama it has been a long time coming – his decision to pour $2.4billion of stimulus money to make America a global leader in electric and hybrid car development comes as the country plays catch up to the likes of Japan and even China in the greencar race (see article ). “I
A report in the People’s Daily quotes Chen Bin, director of the Department of Industry under the NDRC, as stating that Chinese car manufacturers were originally expected to produce and sell more than eight million units of vehicles in the first eight months of the year. Tags: CarsGreencars Latest news.
A powerful roster of key industry players in the rapidly evolving electric vehicle arena will come together at Infocast’s Opportunities in Grid-Connected Mobility in San Francisco, California. A key goal of the Obama administration is to have one million ‘PHEVs’ or a fully electric vehicle on the road by 2015.
Meanwhile Mr Crossley also called into question the belief that the scheme would reduce emissions and benefit the British car production: “This is not a strong environmental measure. While new cars have lower emissions per mile, they may be driven more and there are environmental costs associated with their production.
With payments of up to $4,500 for motorists willing to swap their ageing gas guzzling vehicles for more fuel efficient ones, it seemed like a ‘can’t lose’ scheme with consumers getting cheaper cars, the automotive industry enjoying more sales and the environment boosted by a reduction in harmful emissions.
GreenCar Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Annual investment in the global renewables industry had grown from $16.5 by Bill Cooke. Billion vs. $28.3
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