Subsidy scheme for private electric cars to be released in March

Due to a huge car market and increasing oil prices, the whole world has turned their attention to small-displacement cars and electric cars, among other eco-friendly and energy-efficient cars. Beginning at 2009, China implemented a reduction and exemption on the purchase tax for small-displacement cars. On March 6, Miao Wei, a member of the National People's Congress (NPC) and director of Ministry of Industry and Information Technology of the People's Republic of China, disclosed that the subsidy standards for people purchasing electric cars, which concern both the automobile manufacturers and purchasers, will be released after the NPC and CPPCC sessions.

Subsidy scheme for private electric cars to be released in March

Actually, the act of supporting the development of small-displacement cars and subsidizing purchasers of electric cars embodied the government's concerns and support for eco-friendly and low-carbon industries. With the government's support and the industry's technological innovation, eco-friendly and low-carbon industries will certainly enjoy long-term development, making further contributions to China's environmental protection business.

Soon Beijing citizens who purchase the electric cars will be able to get subsidies from both the central and local governments. Among them, the central government's subsidy can reach up to 50,000 or 60,000 yuan.

Miao Wei said on March 6 that the subsidy scheme for individuals purchasing new-energy cars will be released in March and five cities will be chosen as trial sites based on the schemes proposed by applicant cities. Zhang Gong, an NPC member and director of the Beijing Municipal Commission of Development and Reform, said that currently, Beijing is researching subsidy measures for all-electric cars.