Hainan Island may be about to become a key testing ground for Electric Vehicle adoption

Hainan Island may be about to become a key testing ground in China’s push to lead the world in electric-vehicle adoption.

China aims to phase out sales of fossil-fuel vehicles in the province, and to accelerate the use of new-energy and energy-saving cars on the island, Xinhua News Agency reported late Saturday, citing an official guideline on reforming the southern province.

According to Xinhua, China will control the number of vehicles in Hainan in “a scientific way,” in a bid to make the island a place with a “green lifestyle”.

China surpassed the U.S. in 2009 as the world’s largest automotive market and in 2015 as the biggest NEV market. Already the biggest electric-car market, China accounted for more than half of worldwide sales last year and has ambitions to have 7 million such vehicles on the road by 2025.

Beijing is removing caps on foreign ownership of automaker ventures, widening access to its critically important, high-margin car market. The limits will be rescinded over five years, with restrictions on electric cars to go this year. Earlier this year, central and provincial governments extended subsidies to 50,000 yuan ($7,953) for electric cars that can go longer distances and have higher-energy-density batteries.

Source: https://skift.com