China Aiding Car Buyers in New Ploy
Saturday, April 11th, 2009
In a move to enhance the pace and use of electrics cars in their region, China has reportedly announced that they will be paying subsidies to car-buyers to support electric cars.
Under the new strategy, unveiled in a Friday conference attended by several Chinese officials as well as car firms’ executives, Beijing launches nationwide efforts involving car-producers, research institutes and government agencies to prevail over the technological and safety obstacles to develop electric cars.
China will invest $146b in research on the field, while providing most of the subsidies to consumers, rather than car companies. “Otherwise the companies will just fight for subsidies,” vice minister Zhang Shaochun said.
He added that the government believes the market should decide which electric vehicle model would become popular. So the government is paying some research subsidies, while the main move will be to provide large subsidies for buyers of electric cars.
Beijing has already provided up to 60,000 yuan, ($8,800), for purchases by taxi fleets and local government agencies.
(Source) Press
Tags: beijing, car buyers, car companies, car firms, car producers, electric cars, electric vehicle, taxi fleets, vehicle model, vice minister