New Energy Car Union

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Created by State-owned Assets Supervision and Administration Commission (SASAC), 'New Energy Car Union' was created in August 2010 to develop a Chinese electric car standard. Sasac oversees the largest of China's state-owned companies.

The New York Times reports ultimate investment made be $15 billion in R&D, a significant sum.

Included in New Energy Car Union are 15 soe's, such as:

China Ordnance, the State Grid Corp the Poly Group, and the giant oil company Sinopec.


http://www.nytimes.com/2010/08/20/business/energy-environment/20car.html?ref=global-home