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May 21, 2014

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Green car subsidies extended

THE Shanghai government said yesterday it has extended its incentive program for buyers of environment-friendly cars until the end of next year.

Under the scheme, anyone who buys a pure-electric or plug-in hybrid car in Shanghai will be entitled to a subsidy of 40,000 yuan (US$6,400) or 30,000 yuan, respectively.

The incentives are also available retrospectively to anyone who purchased such a vehicle earlier in the year.

Buyers will also be entitled to a free license plate, worth about 70,000 yuan at auction, the city government said.

With up to 60,000 yuan available under the central government scheme, green car buyers in Shanghai could therefore save up to 170,000 yuan.

The problem, however, remains cost.

The current price of a Roewe E50 — the best-selling electric car in Shanghai — is 234,900 yuan before subsidies.

For about the same money, a consumer could drive away an internal combustion-engine model positioned a notch above the E50’s segment.


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