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Green cars get advance subsidies
Aggregated Source: Shanghai Daily: Business

DELIVERIES of new-energy cars in Shanghai are likely to speed up as carmakers promise to continue offering green auto subsidies - which effectively expired at the end of last year - even before they are extended by the central government.

Shanghai Gaozhan New Energy Vehicle Sales Services said yesterday that SAIC and Chery have taken the lead in keeping their green car retail prices down at the same level as they were under the previous central-level subsidy policy, wherein a subsidy of 50,000 yuan (US$8,151) was given to carmakers for every hybrid vehicle sold, and 60,000 yuan for every electric car until the end of last year.

So far, the dealership has sold around 300 electric cars, with another 300 orders awaiting confirmation, said Xu Weihan, chief finance officer of the city's only green car seller. He expects company sales to pick up.

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Copyright Shanghai Daily: Business