Subsidies for New Energy Vehicles to be Extended until 2015
A subsidy program will be extend by the Finance Ministry to potential buyers of electric powered vehicles after the current subsidy scheme as part of the ministry’s effort in fighting pollution in cities. The existing subsidy policies will be phased out in 2015 and a new regime will then take effect after the expiry date to help preserve continuity in the policy,
Details on the new subsidies have yet to be released later but no date is specified as of yet. The subsidies are designed to help the country meet their goal of placing half a million new energy vehicles that will defined as all electric battery vehicles or heavily electrified or near all electric plug in on the roads by 2015 and around 5 million by 2020.pollution in several cities are caused by the boom in vehicle sales in the past years is one of the hot issues for the country’s leaders and there are several measures already been introduced ranging from curbing sales of petrol engine vehicles and giving subsidies,
As of the moment subsidies of up to 60,000 yuan will be given for those who purchase an all electric battery vehicle and around 35,000 yuan for a near electric plug in vehicle will be extended for another three years.