With Chrysler and GM out of the running, China is vying to become the world leader in hybrid and electric vehicles.The New York Times reports that China is aiming for a production capacity of 500,000 hybrid or all-electric vehicles a year by 2011 - outnumbering the amount of eco-friendly vehicles the U.S. and Japan will be able to put on the roads in the same time frame.
China, who gets three-fourths of its electricity from coal, is offering subsidies for taxi companies and municipalities that switch to electric or hybrid vehicles. The government has also ordered construction of electric-vehicle charging stations for Beijing, Shanghai and Tianjin, the Times reported.
