It is world’s largest market for new energy vehicles.
China, the world’s biggest automobile market, rolled out fresh policies to support hydrogen fuel cell vehicles to improve the industry’s supply chain and technologies, the finance ministry said on Monday.
China is also the world’s largest market for new energy vehicles (NEVs), which include battery electric vehicles as well as plug-in hybrid and hydrogen fuel cell vehicles.
While previous policies to support NEV makers had offered subsidies on sales, the fresh rollout will require local governments and companies to build a more mature supply chain and business model for the industry.
Local governments and companies need to prove their joint projects are able to lower the price of hydrogen fuel, increase the number of hydrogen-charging stations, enlarge hydrogen fuel cell vehicle fleets and improve related technologies, according…