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China to Heavily Subsidize Electrics
In brief: China's government may soon approve a stimulus plan that would go into effect in the next two or three months, heavily subsidizing the purchase of pure electric cars.
The plan would give private buyers in five cities (all the major metropolis) close to $9,000 in incentives for purchasing a pure, plug-in electric vehicle.
The incentives will apply only to cars assembled in China, but any company which does so (Renault will be soon), will qualify. Currently, Chinese companies BYD, Chery, ChangAn and Zotye are producing limited numbers of EVs with several other companies planning to enter the growing Chinese market by 2012.
And so ...
It will be interesting to see what effect this has on both manufacture of EVs and the buyer's market. Perhaps BYD will re-think their putting the e6 on hold.
Photo credits: BYD
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