China Raises Subsidies to Reward Longer Range Electric Cars
China is increasing subsidies for electric vehicles that can travel longer distances on a single charge, while also making it more difficult for battery-powered automobiles to qualify for any new incentives under a central government plan.
From article, (China is increasing subsidies for electric vehicles that can travel longer distances on a single charge, while also making it more difficult for battery-powered automobiles to qualify for any new incentives under a central government plan.
The central government incentive for electric cars that have a range of 400 kilometers (249 miles) and beyond on a single charge has been raised to 50,000 yuan ($7,900) from 44,000 yuan, the finance ministry said in a statement dated Tuesday. At the same time, vehicles have to be able to go at least 150 kilometers on a single charge to be eligible for incentives, up from 100 kilometers previously.
Incentives at central and provincial levels have been key to making electric vehicles more affordable in China, helping the market surpass the U.S. as the world’s biggest in 2015. The Chinese government is leaning toward allowing provinces to continue with local subsidies for EVs to sustain the rising demand for new-energy automobiles in the country, Bloomberg News reported.
The new rules, which went into effect Feb. 12, also cut subsidies by varying degrees for cars with a driving range of less than 300 kilometers, according to the statement. Separately, only electric cars with battery energy density above 105 watt-hours per kilogram are eligible for the subsidies under the new rule. The threshold was raised from 90 watt-hours per kilogram.)
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