BEIJING, July 7 (Xinhua) -- East China's Anhui Province has recently unveiled policies to support development of the new energy vehicle (NEV) and intelligent connected vehicle (ICV) industries.
The province will provide subsidies to the NEV and ICV technology innovation projects, with the maximum subsidy amount for a single project standing at 30 million yuan (about 4.27 million U.S. dollars).
The subsidy funds will be allocated in batches to the project undertakers which shall ensure the funds are used exclusively for the NEV and ICV technology innovation.
The policy shows the province's bullish attitude towards the NEV and ICV industries in the country.
Data of the China Association of Automobile Manufacturers (CAAM) shows that the year-on-year NEV sales drop during the January-May period was 4.7 percentage points smaller than that registered in the first four months.
Some 289,000 NEVs were sold within the period, while about 295,000 units were produced, down 38.7 percent and 39.7 percent, respectively, year on year.The decrease in NEV production narrowed by 5.1 percentage points from the January-April period.
CAAM data also showed China's auto market ramped up expansion in recovery in May, with both production and sales clocking double-digit growths that were much higher than April. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
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