Beijing to offer electric, hybrid car subsidy
Updated: 2010-11-29 16:55
By Hao Yan (chinadaily.com.cn)
Beijing will promote the use of 30,000 electric and hybrid cars, build 100 recharging stations and provide 36,000 rechargers by the end of 2012, People's Daily reported Monday, citing the Beijing Municipal Science and Technology Commission.
The plan said the municipal government will give subsidies to individuals who buy new energy vehicles, and set a target at 23,000 electric vehicles and 7,000 hybrid vehicles by the end of 2012. The subsidies were based on the cost of providing battery power to the cars, which is about 3,000 yuan ($450) per kilowatt-hour. The buyer will receive a subsidy of up to 60,000 yuan for one electric vehicle, or up to 50,000 for one hybrid vehicle.
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Beijing will increase government procurement of new energy vehicles, encourage the use of electric vehicles by institutions and enterprises, and encourage financial institutions to provide loans, warrants and other support to promote the purchase of electric vehicles, according to the report.
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