Document summary
China’s ambitious goal is to develop a fleet of 5 million electric vehicles by 2020. Such a fleet would represent 43% of the estimated global PHEV/EV fleet and 0.4% of the global vehicle fleet. China is planning to fund this ambitious goal with RMB115 billion (US$18 billion). Even if China were to achieve 70% of its fleet goals by 2020 the country still will have achieved an enormous result that will reduce the growth of GHG emissions and petrol consumption as the country’s emerging middle class becomes increasingly urbanised and mobile.