Word: carly
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Dates: during 2000-2009
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Like drowning men grasping the only piece of buoyant driftwood in sight, top executives from the world's beleaguered auto industry arrived in Shanghai this week for the city's 2009 auto show, unveiling their newest brands in the only car market in the world that continues to grow. Some of the show's stars are predictable, drawing crowds of reporters and photographers on Monday, media day: a stunning new Lexus convertible, the reborn Chevy Camaro from General Motors (Chinese journalists took turns lining up to be photographed in front of it) and the worldwide debut of Porsche...
...investment, said he believed that BYD's technology was a "potential game changer if we're serious about reducing carbon-dioxide emissions." BYD has nearly 11,000 engineers and technicians working on battery technology at the company's headquarters in southeastern China. (See the history of the electric car...
...China's government is backing the industry's push toward electric cars. Large fleet owners - in China, that's mainly regional governments and taxi companies - now get subsidies worth up to $8,800 per vehicle if they buy electric. Beijing has also announced that it will spend $1.5 billion in grants to help its auto industry innovate. Because most Chinese car owners don't travel long distances, but rather commute in smoggy, traffic-clogged cities, a switch to plug-in electric vehicles is more plausible in China than in other countries...
...Even with government backing, skeptics say Chinese electric cars are not ready for prime time. "From what we've seen so far, the technology is not that advanced in terms of battery life, range and in terms of recharging," says GM's Reilly. "If you look at the details, they don't necessarily perform as well [as GM's electric-car entry, the Volt] in those measures." GM plans to introduce the Volt in China late next year or early...
...While governments elsewhere tend to shrink from legislating higher fuel costs, Beijing may not be as reluctant. "I actually think it's more likely to happen here than in the United States," says the Japanese executive. China's car companies are at a technological disadvantage when it comes to making internal-combustion engines, but the playing field for all-electric vehicles is very nearly level. With a concerted push, the Chinese could leap ahead of the rest of the world. Reilly agrees that Beijing means what it says about boosting the technology. For that reason, he says, "we ought...