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China Accelerates Adoption of Electric Vehicles

25 May

China is making advances towards a widespread roll-out of electric vehicles, beginning with a tentative subsidy plan in Beijing, the nation’s capital.

The proposed subsidy plan has already won approval from several government ministries involved in the decision-making process, and will likely take effect soon.  Under the plan, Beijing’s municipal government will offer subsidies ranging from RMB 50,000 (approx. US$7,700) for plug-in hybrid cars to RMB 60,000 (approx. US$9,200) for pure electric cars.  In addition, the municipal government will subsidize up to 30% of the construction costs for a network of charging stations and poles.

Beijing aims to have 100,000 pure electric vehicles on its roadways by 2015.  Notable policies supporting electric vehicles are also emerging in other major Chinese cities such as Shanghai and Hangzhou.  Chinese electric vehicle manufacturers, including BYD, Zotye and Chery, are applauding this move towards gasoline-free transportation with an eye towards rapid market growth.  Read more here…

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