Thursday, July 29, 2010

More Local "New Energy" Vehicle Subsidies

In addition to the central government's subsidies for new energy vehicles in China, two more local governments have announced their own subsidy plans.

Shanghai is planning subsidies of 40,000 to 60,000 yuan for individual buyers of plug-in hybrid or electric vehicles, and the city of Changchun, along with Jilin Province, is also planning a subsidy of about 40,000 yuan.

Shanghai is the home of Shanghai Automotive which owns the MG and Roewe brands (bought from the UK) and has joint ventures with both Volkswagen and General Motors. Changchun is the home of First Auto Works, a centrally-owned company that has joint ventures with Volkswagen, Toyota and Mazda, and is producing some of its own-branded vehicles as well.

Shanghai and Changchun join Shenzhen which earlier announced it would provide new energy vehicle subsidies.

These are the subsidies available so far. ($1 = 6.8 RMB)

People buying pure electric vehicles in Shenzhen could get a subsidy of up to 120,000 RMB ($17,600). That approaches half the cost of an electric vehicle.

Now, if only they can find a place to plug it in...

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