Home Transportation Electric Vehicles

Electric Vehicle Incentives to Resume in China by May

39
0
BYD China Could See Increased Sales if Electric Vehicle Incentives are Reinstated
BYD China Could See Increased Sales if Electric Vehicle Incentives are Reinstated

China expects to resume electric vehicle incentives sometime in the next couple of months, which will help defray the extra cost of buying more expensive electric vehicles.

The last series of Chinese electric vehicle incentives ran from 2010 through 2012. Anyone who wanted to buy and electric vehicle after December 31, 2012 had to pay full price. While clean electric vehicles save money on refueling and have very low emissions, they are also expensive.

To help defray the cost, China’s incentives gave $9,700 back to buyers of new electric vehicles.¬†When the program ended in 2012, Chinese electric vehicle company BYD saw an immediate drop in sales.

BYD’s chairman was happy to note that China was going to start a new electric vehicle incentive program, hopefully to be announced by May. While the exact details are still unknown, BYD expects sales to increase once they are in place.

(Visited 45 times, 1 visits today)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.