25 Mar '15, 3pm

China’s Shenzhen City Paying $800M For Green Energy Vehicles

China’s Shenzhen City Paying $800M For Green Energy Vehicles

According to an official statement released recently, the Shenzhen city government plans to contribute up to $800 million (5 billion yuan) to stimulate increased green vehicles sales. The Shenzhen government plans to use the fund to increase green energy infrastructure throughout the city. By creating charging stations and financially assisting purchasers of green vehicles Shenzhen hopes to reduce the cost of owning one of these vehicles. Currently in Shenzhen, there are 10,000 electric, plug-in hybrid, and fuel cell vehicles registered. This is only about one-third of the eventual 35,000 unit goal the city is attempting to reach by 2017. SEE ALSO: BYD e6 EV To Assembled In Taiwan The city, which is also home to the Warren Buffet-backed BYD Auto, plans to provide buyers of its Qin model for example, subsidies of $5,594 (35,000 yuan) towards the total cost. Along with aid f...

Full article: http://www.hybridcars.com/chinas-shenzhen-city-paying-800...

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