Bitcoin Mining Ban Disruptive for Electric Vehicle Adoption in China

Bitcoin Mining Ban Disruptive for Electric Vehicle Adoption in China

Bitcoin Mining Ban Disruptive for Electric Vehicle Adoption in China

Tracing the footsteps of Beijing’s Bitcoin crackdown, Guizhou became the first Chinese province to utilize the available power capacity to work on its climate-awareness schemes.
With an abundance of hydroelectric power, this southern province has declared a new agenda. They plan on manufacturing a minimum of 4,500 new electric vehicles by 2021. The production is set to grow to 5,000 by 2022 and 5,500 in the next few years.

According to an article in the South China Morning Post, Beijing’s insistence over the miners has released more than 50 terawatt-hours power. This is enough to power a well-developed town with a 1 million population for approximately 33 years.

Futuristic Plans of Guizhou

Guizhou is listed among the countries with the lowest per-capita income across the world. However, this does not affect their plan on constructing around 38,000 charging stations for Electric Vehicles before 2023. They also want to ensure that every town in the province has 1 station in any case. Furthermore, 20% of the bay parking at malls will also be equipped with EV charging points.

The comments of manufacturers and natives of the province were included in the SCMP report. They are looking forward to receiving customer discounts and perks from the authorities. This will surely help in driving the attention of other companies and manufacturing products that conform with best environmental practices.
But, the biggest challenge would be to provide charging stations service in all underdeveloped regions of the province. The perfect execution of this plan requires the local automotive businesses and provincial government to work together. This will help in providing the initial production with a boost.