A trial subsidy program for new energy autos, has been unveiled in the southern Chinese city of Shenzhen (Tuesday). Car buyers can receive up to 120 thousand yuan from the central and municipal governments. It's the latest in the government's efforts to curb emissions caused by increased car ownership.
Last month, Shenzhen's local government promised subsidies of 20 thousand yuan for purchases of new energy autos. But details of the subsidy released today well exceeded expectations. The central government's bonus of 60 thousand yuan for electric cars will be matched by the municipal government. Buyers of hybrid cars will be entitled to 50 thousand yuan from the central government, and 30 thousand yuan from the local government. The subsidies mean that the price of the F3DM hybrid model has dropped by 80 thousand yuan.
Auto consumer said "I am considering purchasing because of the high subsidies."
In addition to subsidies for green cars, local buyers will get another 9,000 yuan in the form of electricity cashbacks. To keep up with the growing popularity of new energy autos, construction of charging stations has also been accelerated. As Chinese cities continue to battle high levels of pollution, many are hoping there'll be a change in the air.