Massively undervalued, page-11

Yip heres a post from
043110 over on a PIO thread about the Chinese government push for its comrades to buy EVs! Its old news from Dec 2015...but still it yells a story.

China has set targets of 4.5M EV total sales over the 2015-2020 period for each of its provinces. The Gov and has offered up rebates for EVs. See article below.

https://technology.ihs.com/569248/n...ovince-municipality-for-next-five-years-report

21 Dec 2015

Last week, the Chinese government set electric vehicle (EV) sales target for 27 provinces and four municipalities from 2016 to 2020 in a bid to boost presence of new energy vehicles (NEVs) in China, reports Automotive News China. The government is pushing automakers operating in the country to sell 4.57 million EVs over the next five years.

Three major Chinese cities Beijing, Tianjin and Shanghai along with seven provinces Shanxi, Hebei, Shandong, Jiangsu, Zhejiang, Guangdong and Hainan each must sell 233,000 EVs. Six provinces Henan, Anhui, Jiangxi, Fujian, Hunan and Hubei are expected to sell at least 156,000 EVs apiece. Besides, Chongqing and 14 other provinces have been asked to sell at least 87,000 EVs apiece.

Further, in order to meet overall goal, the Chinese government has asked each city and province to set annual sales quotas that will gradually increase year by year. The government will reward city and province if they beat sales target. City and province can earn annual bonuses ranging from CNY7.5 million (USD1.2 million) to CNY200 million (USD30.8 million) if they sell more than minimum number of EVs. However, it is not clear what will be the penalty for missing the targets.

Significance: Since 2010, the Chinese government is offering subsidies on purchase of EVs and plug-in hybrids. However, such measure has limited impact on boosting sales with fewer than 400,000 of such vehicles are on Chinese roads. The country is likely to miss its target of selling 500,000 NEVs by the end of this year. However, this has not dampened effort of the Chinese government which has come with more aggressive goals of having 5 million EVs and plug-in hybrids on Chinese roads by end of this decade. Apart from pushing automakers to sell more EVs, the government is investing in necessary infrastructure. Last month, the government disclosed plan to build 12,000 charging stations and 4.8 million charging poles across the country over the next five years.