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Shenzhen To Offer Electric Car Subsidies Of Up To 120,000 Yuan
[ 2010-7-7]

The Shenzhen government announced on July 6 that it will offer subsidies of 30,000 yuan to 60,000 yuan for the purchase of plug-in hybrid electric vehicles and pure electric vehicles, which will be offered in addition to central government subsidies announced on June 1, reports The central government subsidies range from 50,000 to 60,000 yuan per vehicle and are being initially offered in Shenzhen, Shanghai, Changchun, Hangzhou, Hefei, Tianjin, Haikou, Zhengzhou, Xiamen, Suzhou, Tangshan and Guangzhou.

BYD (1211.HK) launched its first new energy vehicle, the F3DM, which the article said can be purchased in Shenzhen for 90,000 yuan after subsidies. Shenzhen hopes to have 25,000 privately-owned new energy vehicles on its roads by 2012. China's vice Minister of Finance Zhang Shao Chun announced that the Ministry of Finance plans to spend 4 billion yuan to support commercialization of new energy vehicles in 2010.