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Tuesday, June 1, 2010

China To Offer Subsidies For Electric Vehicle Purchases In 5 Cities

China will offer subsidies for electric vehicle purchases in five cities, the Ministry of Finance said Tuesday.

As part of efforts to save energy and reduce emissions, China will offer a subsidy of up to CNY60,000 for each electric vehicle purchased in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei, the ministry said in a statement on its website.

The new subsidy was jointly launched with several government agencies, including the economic planning agency, the ministry said, without disclosing a time frame for the subsidy.

The central government urged municipal governments to invest in relevant infrastructure for electric vehicles, such as battery recharging stations, the statement said.

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