Buyers of New Energy Vehicles to Get Government Subsidies

Buyers of New Energy Vehicles to Get Government SubsidiesResidents planning to purchase electric vehicles can get government subsidies or around 60,000 yuan. The said subsidies are from a 5 billion yuan fund that was approved by the government in effort to boost the sales and use of new energy vehicles.

The subsidy that will be given will depend on the vehicle category and length and on how long it can travel on a single electric charge. Example a new energy that measures over 10 meters can get the maximum subsidy of 500,000 yuan and the owner of an electric vehicle with a range of 250 kilometer in a single charge can get a subsidy of 60,000 yuan. These subsidies are mainly aimed to cover the cost of insurance, toll fees, installation of charging facilities and charging fees.

The government is also encouraging taxi companies to use electronic taxis in their fleets by offering subsidies as well. a taxi company that replaces its regular vehicle with a new energy vehicle will get a subsidy of 55,800 yuan along with business licenses to operate electric taxis.

Based on a plan of the government, these new energy vehicles are separately registered so traffic supervision system will be improved and the drivers of these vehicles will be able to enjoy an hour of free parking at roadside parking spaces every day. The government is also inviting private investors to participate in the construction and to manage the charging facilities. Based on the new policy these operators are given approval to do business through franchising and the standard prices for these services will be set below 0.45 yuan per kilowatt temporarily.

Furthermore a 30 percent of the construction cost of the charging facilities should be shouldered by the government once completed. As of the moment Shenzhen has 81 quick charging stations in which 74 are being used for electric buses and around 3,000 slow charging stations.

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