China's Public Transportation System Rapidly Adopting Electric Vehicle Technology in Taxis to Reduce Dependency on Fossil Fuels
According to a new research report recently published by Transparency Market Research, the China New Energy Vehicle (NEV) taxi market is expected to reach US$560.5 million at the end of the forecast period between 2014 and 2020. NEV [ New Energy Vehicle ] taxi refers to a vehicle using unconventional vehicle fuels as a source of power, or a vehicle using conventional fuels with advanced automotive propulsion systems. Taxis in China travel around 450 kilometers on daily basis. Considering their...
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