(Yicai Global) Sep. 29 -- The provincial government of China's western Sichuan province will promote the accelerated development of its new energy vehicles industry and aims to realize a total industry output exceeding more than CNY100 billion (USD15 billion) by 2020, said the government in a press briefing.
The province produced 14,500 new energy vehicles in 2016, resulting in an economic output worth CNY15 billion.
Sichuan aims to produce 100,000 energy-saving and new energy vehicles per year by 2020 as well as install 12,000 charging piles across the province.
Sichuan province aims to nurture one or two industry-leading companies, as well as a several branded enterprises, and create a base for R&D activities related to the sector.
The government will also look to develop core technologies related to new energy vehicles by 2020 in order to reduce fuel consumption of new energy vehicles produced in the province.