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China Ponders Expanded EV Incentives
Vice Premier Ma Kai says China may attempt to bolster demand for electric vehicles by reducing or waiving the country's 10% purchase taxes on such vehicles, Bloomberg News reports.
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Vice Premier Ma Kai says China may attempt to bolster demand for electric vehicles by reducing or waiving the country's 10% purchase taxes on such vehicles, Bloomberg News reports.
The government has set a goal of putting 500,000 EVs on the road by 2015. But Bloomberg says only about 70,000 have been sold since Beijing launched the initiative five years ago.
Analysts blame the sluggish demand on high EV prices, a lack of local government support and a shortage of charging stations.
Ma says China might use a portion of emission surcharges to help finance electrics. He also has urged local governments to help develop EV rental services.
In February the government said it would delay a plan to phase out subsidies for EVs at the end of 2015.
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