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China to extend subsidies on electric cars past 2015

10 February 2014 | Reuters

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China's Finance Ministry said it will extend a programme of subsidies for buyers of electric-powered vehicles after the current subsidy regime, part of efforts to combat pollution in cities, expires in 2015. The existing subsidies will be phased out by 2015 as planned, with a new regime to take effect after that date "to preserve policy continuity", the ministry said in a statement on its website. Details of the new subsidies would follow at an unspecified date.

The subsidies were designed to help China meet a goal of putting half a million new-energy vehicles, defined as all-electric battery vehicles and heavily electrified "near all-electric" plug-in hybrids, on the road by 2015 and 5 million by 2020.


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