China to subsidise electric, hybrid cars
Nissan Leaf
China has announced a new plan in a bid to boost the sales of electric cars in the country. Under the plan, buyers could save as much as 60,000 yuan ($8,800) on an electric car and 50,000 yuan ($7,320) on plug in hybrids. Currently the scheme is only available to residents of Shanghai, Shenzhen, Hangzhou, Hefei and Changchun.
China leads the world automotive market selling 13.6 million units last year alone, a rise of 46 percent from the year before. This has mainly been attributed to goverment grants to help people in rural areas buy a car.
This new scheme is a welcome addition to the Chinese auto market, however sales are not expected to rise sharply as the cost of batteries is fairly high and there is no adequate infrastructure to charge batteries.
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Posted by M McDonald on Jun 5 2010 Filed under Autos. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
