China Released Subsidy for New-energy Vehicles

China has released details of its subsidizing scheme aimed at promoting the use of energy efficient and new-energy vehicles.

The central government will offer a one-off subsidy to companies and institutions in 11 cities to buy hybrid and fuel-cell vehicles. This subsidy has not yet been extended to private car users. It is set to be determined by the price gap between energy-efficient vehicles and those powered by gas.

The standard for public transport buses is: the mix-power bus subsidy is for 80,000 or 420,000 yuan depending on energy category. For an electric bus, the subsidy is 500,000 yuan, while that of a fuel cell bus is 600,000 yuan.

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