22 Jun '13, 2pm

China Reportedly Shifting Electric Car Incentives to R&D

PHOTO CAPTION: Shanghai Auto's Roewe E50 Electric Car prototype. China Reportedly Shifting Electric Car Incentives to R&D Tweet The government of China plans to phase out direct financial incentives to consumers for the purchase of electric vehicles and will focus instead of supporting research and development. SHANGHAI, China, June 20, 2013 (ENS) – The government of China plans to phase out direct financial incentives the purchase of electric vehicles in favor of supporting research and development by its major automakers, says a senior minister. Minister of Science and Technology Wan Gang said government subsidies are only “short-term solutions,” and direct government incentives for consumers are likely to be eliminated by 2020, if operational expenses can be lowered and the market expanded. “The government is unwaveringly committed to the industry, but EV makers should ...

Full article: http://evworld.com/news.cfm?rssid=30566

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