Tuesday, September 24, 2013

China brings back electric vehicle subsidies

China has revived its subsidies for electric vehicles as the country continues to try and tackle its terrible air pollution problem.
The government will offer buyers of all-electric, plug-in hybrids and hydrogen vehicles grants of up to 60,000 yuan (£6,160) until 2015.
That should come as music to the ears of Chinese electric car makers such as BYD and Chery Automotive.
The so-called New Energy Vehicle subsidies are designed to help the country meet its target of putting five million electrified vehicles on the road by 2020.
China’s original grant programme expired at the end of 2012. According to state-owned news agency Xinhua, there were about 27,800 new energy vehicles in use by the end of last year, mostly buses.