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New subsidy policy unveiled for energy-saving vehicles
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The Chinese government yesterday unveiled a much-awaited new subsidy policy for energy-saving cars, reinforcing its commitment to promote eco-friendly transport and determination to realize commercial viability of the new-energy industry.
A private buyer of electric passenger cars will continue to enjoy a maximum subsidy of 60,000 yuan (US$9,804), the Ministry of Industry and Information Technology said. A buyer of electric plug-in hybrids will enjoy a maximum subsidy of 35,000 yuan. The subsidies will be given directly to carmakers which will then reduce the amount from the retail price of the energy cars.
But the government will cut the subsidy at all levels by 10 percent in 2014 and 20 percent in 2015 to send a message that the industry cannot rely on subsidies indefinitely and should build its own strengths.
The government is also determined to dismantle barriers set up by local governments protective of their own new-energy car industry by insisting that non-locally manufactured new-energy cars must account for at least 30 percent of their green car promotion targets.
Sales of new-energy cars have not been affected greatly by the expiry of subsidies at the end of last year because carmakers have been offering advance payments to keep the retail prices of green cars flat as they were under the previous policy, said Xu Weihan, spokesman for Shanghai Gaozhan New Energy Vehicle Sales Services, the sole new-energy car seller in the city.
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