The mass production of electric vehicles is the next big investment opportunity in green technology, the chief executive of a private equity fund said on Monday.

“Solar technology has been there for a long time. China has gotten wholeheartedly into it, reduced the cost to a ridiculous level right now to break even on many areas, many regions,” said Bo Bai, CEO of the U.S.-China Green Fund.

“Electric vehicles, it’s similar. The technology has advanced to a certain stage with mass production and logistics management. The cost is reducing very substantially,” Bai told CNBC at the Credit Suisse Asian Investment Conference in Hong Kong.

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