A BYD F6DM sedan. (Photo/Xinhua) |
A new
subsidy policy is intended to promote the use of energy-saving automobiles,
according to a Thursday report by the China Securities Journal.
The
previous policy, which expired at the end of last year, provided a subsidy of
50,000 yuan (US$8,150) to automakers for every hybrid vehicle sold, while
60,000 yuan (US$9,800) was provided for every electric vehicle sold.
Miao Wei,
head of the Ministry of Industry and Information Technology (MIIT), said in
March that a new subsidy policy for energy-saving cars will be issued in the
first half of 2013.
The China
Securities Journal report cited an MIIT official as saying that the policy will
need final authorization from the State Council, or China's cabinet, after
several government departments pass a draft version of the policy.
Li Weili,
chief of the manufacturing division under the State Information Center, said
the new policy is expected to last until 2015 at least. He said detailed provisions
regarding subsidies for electric cars will likely be implemented before the end
of June 2013, although provisions related to hybrid vehicles may come out
later.
Standards
for the evaluation of hybrid vehicle energy consumption have yet to be created,
which has postponed the creation of special subsidies for hybrid vehicles based
on how much fuel they save, Li added.
The MIIT
has shown a tendency to support hybrid vehicles with lower energy consumption,
which has led many automakers to boost research and development for such
vehicles.
Ling
Tianjun, chief engineer of green vehicles at the Shanghai Automotive Industry
Corporation (SAIC), one of China's four largest auto groups, said SAIC has
started selling hybrid cars at lower prices with the help of subsidies totaling
over 100,000 yuan (US$16,300).
Chery, one
of China's largest private automotive enterprises, has decided to spend more on
electric vehicle research, the report said.
The MIIT,
together with Ministry of Finance and Ministry of Science and Technology,
announced a program to encourage innovation in green vehicle technology in
September 2012.
But Duan
Zhihui, Chery's chief hybrid vehicle engineer, said the three-year time limit
for the new subsidies may cause auto companies to rush their research and
development in order to avoid missing the opportunity to receive the subsidies.
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