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“New energy” vehicles to represent 10% of Chinese market by 2012

The market share of so-called new energy vehicles is expected to account for 10% of total Chinese production by 2012, according to a senior Chinese official. “The fuel-efficient and new energy vehicles should account for 10% of the total industry in 2012,” Science and Technology Minister Wang Gang said recently in Beijing. That expectation is twice the 5% share that the Chinese government called for in its automobile industry restructuring and revitalization plan announced in January. With China’s vehicle output expected to surpass 10 million units this year, domestic automakers are eager to produce green vehicles that will allow them to better compete with global rivals in the industry.  (October 26, 2009)