TAILIEUCHUNG - The China New Energy Vehicles Program - Challenges and Opportunities

Second, when central and sub-national governments share a common tax base, there are vertical tax externalities between levels of government that are taxing the same common pool. An increase in a province’s tax rate causes its tax base to fall, which in turn causes tax revenues to fall both for the regional and for the central government. The province, in choosing its tax policies, will neglect the adverse effect of its actions on federal revenues. Thus, it will consider its marginal cost of public funds to be lower than the true value, leading it to set too. | APRIL 2011 The China New Energy Vehicles Program Challenges and Opportunities Prepared by PRTM Table of Contents Preface I References and Other Relevant Reports III Acronyms and Key Terms IV Executive Summary 1 1. Introduction 3 2. The Megatrends Behind Electrification of Transportation 5 3. Observations on China s New Energy Vehicles Program 11 A Policy Framework 11 State of Technology 13 Commercial Models 15 4. Discussion and Conclusions 17 Comparison with Other Programs Worldwide 17 Challenges for China Going Forward 29 Acknowledgements This report has been prepared for Mr. Shomik Mehndi-ratta smehndirtatta@ in the World Bank Transport Office in Beijing and under his guidance by a consultant team consisting of PRTM Management Consultants Inc. with the assistance of Chuck Shulock and the Innovation Center for Energy and Transport. The purpose of the report is to disseminate information on the implications of electric vehicle adoption in China. The authors would like to thank Messrs. O. P. Agarwal Liu Zhi Gailius J. Draugelis and Paul Procee for reviewing the draft report and offering comments and insights. Disclaimer Any findings interpretations and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the World Bank. Neither the World Bank nor the authors guarantee the accuracy of any data or other information contained in this publication and accept no responsibility whatsoever for any consequence of their use. 2011 World Bank in part and 2011 PRTM Management Consultants Inc. in part subject to joint copyright ownership by World Bank and PRTM Management Consultants Inc. Preface Preface Urban Transport and Climate Change Urban Transport and Climate Change Reducing CO2 emissions is a growing challenge for the transport sector. Transportation produces approximately 23 percent of the global CO2 emissions from fuel combustion. More alarmingly transportation is the fastest growing consumer .

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