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Investment Environment by Countries – China (2)

published: 2011-02-10 16:31

According to “Plan on Adjusting and Revitalizing the Auto Industry” published on March 20th 2009, government organizations, taxi, corporate vehicles, and public transportations were to promote and demonstrate electric vehicles while establishing infrastructure readiness for charging stations.

The budget for the plan is 20 billion RMB with an additional 11 billion RMB for the development of key components of EVs. It is estimated that there will be 500,000 EVs on the road accounting for 5% of total automobiles by 2011.

Local government bodies showed supportive sentiment toward EVs. In Shanghai, consumers can obtain cash grant as high as 20% of the purchase price when purchasing and registering electric cars with fuel efficiency higher than 15%. Chongqing local government cooperated with Chang'an Automobile Co. to invest 50 million RMB in procurement of EVs. Shenzhen and Guangzhou also showed support for promoting Evs by means of subsidies, tax refund, and exempt from toll road fees.

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