China Daily. China’s incentive plan for private purchases of new-energy vehicles may be introduced by the end of this month and will be tested in five cities, rather than nationwide, according to a report in the Shanghai Securities News.
The five cities are Beijing, Shanghai, Shenzhen, Chongqing and Wuhan, the report said.
According to earlier media reports, the incentives for new-energy vehicles would be very similar to last year’s pilot project for public sector buyers—private electric car buyers in certain selected cities could get incentives of up to 60,000 yuan ($8,787.86).
However, if the subsidy plan is applied to only a few cities, it won’t fully boost the new-energy vehicle consumption in China, said Kevin Wale, GM China’s president and chief executive. Chinese consumers need some time to get familiar with driving new-energy vehicles, and the construction of charging stations also will take time, he added.