China to Offer Rebate on Alternate Energy Vehicles

Here is an interesting article from Caijing.com.cn. China will apparently offer a similar rebate as the one offered in the United States. Since automobiles in China sell for less than those in the US, this is a larger percentage rebate. The Chinese appear serious about converting their fleet to alternate energy vehicles.

"The government of China is considering providing rebates of up to 50,000 yuan (US$7,300) to buyers of cars powered by alternative technologies, Industry and Information Technology vice minister Miao Wei told Caijing in an interview 12 March. Covered vehicles would include those powered by biofuels, electricity and hybrid systems.

The proposed rebates will range between 10,000 to 50,000 yuan ($US1,500-$7,300) depending on the energy efficiency of the cars, according to Miao, who formerly was president of Dongfeng Motor Corp., China’s third-largest automaker.

The reimbursement plan is being drafted by the Ministry of Industry and Information Technology and the Ministry of Science and Technology, which plan to release a scheme for classifying cars by energy efficiency in two months, Miao said."