Hu Maoyuan, president of Shanghai Automotive Industry Corp. (SAIC), China's biggest car producer, said Tuesday that Chinese auto makers will introduce more clean energy sources, instead of more expensive and shrinking petrol.
The new clean auto energy will include hydrogen, mixed fuel and liquefied natural gas (LNG), said Hu at the 2005 Fortune Global Forum held in Beijing from May 16 to 18.
"Chinese auto makers are thinking of using hydrogen as a major new energy source, just like most developed nations," said Hu. But he noted that the high cost is a major barrier to expand hydrogen, so mixed fuels have to be considered as another choice.
"My corporation will work in cooperation with foreign companies in developing new energy sources," said Hu. "We hope that cars with new mixed fuels will run on Beijing's roads by 2008."
Hu said China is launching a strategy of sustainable development and its GDP (Gross Domestic Product) will keep an annual growth of 7 to 8 percent by 2020 -- a sound basis for the Chinese auto industry -- and will set a demand for energy saving and clean energy sources.
Alex Tayler, senior editor of Fortune magazine, said that solving the problems of clean and renewable energy should be on the agendas of all the world's major auto markets, and governments and auto makers should work together to cope with this challenge.
(Xinhua News Agency May 17, 2005)
