Renewed Subsidies Did Not Include Gas-Electric Hybrid Vehicles
A part on the country’s effort to fight air pollution, china renewed subsidies for private buyers of new energy vehicles or electric powered vehicles for another three years but did not include purchases of gasoline electric hybrid vehicles. The Central Government announced that they will be giving up to 60,000 yuan for purchases of all electric battery cars and 35,000 yuan for near all electric plug in vehicles.
The new policy will benefit Chinese carmakers that are known for making electric cars. Even with the recent news that China was starting to warm up on the use of conventional gasoline electric hybrid vehicles after subsidies failed to boost its sales, the renewal will not provide subsidies for the fuel saving hybrid vehicles.
The new program will run until 2015, renews the program that will expire by the end of this year. The difference with the new measure is the inclusion of hydrogen powered fuel cell vehicles in which the government is willing to give 500,000 yuan in rebates. Although experts are still hopeful that there will still be a possibility of the government to announce a separate purchase incentive program for conventional hybrid vehicles.