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China Increases Locally-Produced Electric Car Subsidies, Puts Huge Taxes on Imported Ones

China electric cars 300x210 China Increases Locally Produced Electric Car Subsidies, Puts Huge Taxes on Imported OnesThe Chinese government seems to be in love with these fancy electric vehicles, because the feeling keeps encouraging them to “breed”: it pays interested people good money to take one or cuts them some slack at the counter.

The subsidy measures for EVs are not something special in this country, but this time the sums are: according to China Daily, anyone with his or her mind set on buying an EV will do it with less money than they expected – 120,000 yuan or about $19,100, which is pretty much of a cut, considering it’s more or less half the price. This funding has gone up from the 60,000 yuan ($9,500) available so far.

Another measure intended to boost this sector is dispensing with the sales tax for all EVs made in China. This will save the buyer as much as 9% of the cost, while hybrids will benefit from a 50% cut in the sales tax.

Also, the Chinese government is very protective of its home market. Should any Chinese citizen dare to bring an EV made in the West, not only he or she will pay a 25% customs duty, but will also have to deal with the 9% sales tax and the whole, unreduced price of the vehicle. So much for electric cars imports!

So, if the infrastructure and range problems will be solved, electric vehicles have promised a shining future in the Chinese empire! All you have to do is live there and like the EV models they’ll fill the market with.

[via gas2]

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