01 Nov '11, 9pm

China Pushes Electric Car Market with Hefty Subsidies and More

China Pushes Electric Car Market with Hefty Subsidies and More

Starting today top Chinese automaker SAIC Motor Corp. Ltd. is offering a 13.5 percent price cut to people who buy a new hybrid Roewe 750 sedan during the five days of the Shanghai industry fair. The offer brings the sticker price on the country's first mass-produced eco-friendly car from 236,800 yuan ($37,260), to 204,800 yuan ($32,200), according to Reuters . The subsidy on the Roewe 750 is just one of the incentives to push the market for hybrids and electric vehicles in China , where the government wants to have 1 million cars powered by electricity on the road by 2015. BYD rolled out the first all-electric car for the country's consumer market last week in the tech-centric city of Shenzen, where buyers of the BYD e6 are eligible for double the amount of a government subsidy to speed EV sales. In the southern China city, the five-passenger BYD e6 -- a model previously a...

Full article: http://www.greenbiz.com/blog/2011/11/01/china-pushes-elec...

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