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SUBSIDIES FOR ELECTRIC BUSES * China: Is considering to cutting off
* China - Incentives for electric buses said to be cut as much as 49.5%
-- China is proposing to cut the amount of subsidies for electric buses because the policy was considered overly generous, while imposing a price ceiling on passenger vehicles that qualify for incentives... Incentives for electric buses will be cut by an average of 32 percent, with funding for the largest models reduced by as much as 49.5 percent, according to the people, who asked not to be identified as the deliberations are private... Electric passenger vehicles costing more than 350,000 yuan ($53,800) won’t be eligible for government subsidies under the proposal. The plan is still being reviewed by various ministries and has to be approved by the State Council... The plan, if approved in its current form, may damp demand electric vehicle sales, which surged more than threefold last year to 331,000 units... The Ministry of Industry and Information Technology didn’t immediately respond to a faxed request for comment on the plan...
(Photo: Bus 100% electric model K9 from BYD/China) -- Beijing, China - Bloomberg News - March 29, 2016Labels: electric busmakers news, stimulus funds
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