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China rolls out more support for new energy vehicles

Xinhua, February 24, 2016 Adjust font size:

China will take further measures to support the new energy vehicles (NEVs) industry, as it has a positive effect on economic upgrading and environmental protection, the State Council said Wednesday.

NEVs benefit the environment, industry upgrade and create new growth engines, said a statement issued after an executive meeting of the State Council chaired by Premier Li Keqiang.

China's NEVs sector has seen explosive growth in the past two years, thanks to subsidies and tax cuts.

NEV output in China increased fourfold year on year to 379,000 units in 2015, according to the Ministry of Industry and Information Technology. Endit