City Released Interim Subsidies to Non Local Carmakers

City Released Interim Subsidies to Non Local CarmakersThe city recently released a interim regulation on subsidy policies for new energy vehicles. the new regulation states that subsidies are provided to non local carmakers only if they create a subsidiary company in Shenzhen that have a registered capital of more than 50 million yuan. non local carmakers will have difficulty getting subsidies as it take a company around three months to register a subsidiary and the interim regulations will expire by the end of the year.

The city development and reform commission also released the regulations on its website and these regulations were mean to further promote the use of new energy vehicles in the city. Based on the regulations, subsidies covers the purchase and use of new energy vehicles, the recycling of electric car batteries, establishing recharging facilities along with other programs that were given government approval.

The city is planning to promote the usage of 25,000 new energy vehicles by giving out subsidies to those purchasing new energy vehicles. And based on regulations a subsidy if 60,000 yuan is provided to buyers who purchases an electric  or new energy vehicle that have a 250 kilometer range.

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