Beijing: The Chinese government Wednesday approved a guideline for development of new energy-saving vehicles to ease pressure on the environment.
Electric vehicles will be prioritized in the transformation of China`s auto industry, the government said after a meeting of the State Council Wednesday.
The meeting, presided by Prime Minister Wen Jiabao, noted that the country`s electric and hybrid vehicles will reach 500,000 units by 2015 and five million by 2020, Xinhua reported.
China overtook the US to become the world`s largest auto market in 2009 after selling 13.64 million vehicles that year.
Both car sales and production volume witnessed astonishing growth in 2009 and 2010 before slowing to a 2.4-percent growth rate in 2011.
The country still remains the world`s largest auto market, although in the first quarter of this year, sales fell slightly year-on-year due to a high comparison basis and surging oil prices, according to the China Association of Automobile Manufacturers.