China Offers $6,300 Subsidy to Hybrid Car Buyers

Counting 3-year road tax exemption, the subsidy is equivalent to a 31 percent discount for the hybrid sedan.

Published: 15-May-2009

SHANGHA - China will give 43,000 yuan ($6,300) in subsidies to buyers of hybrid car buyers in the southwestern city of Chongqing, the first state initiative for private cars, the Shanghai Securities News said on Friday.

The subsidy, from the local government, will be given for the Jiexun brand hybrid sedan made by Chongqing Changan Automobile Co (000625.SZ), the newspaper said.

According to Reuters calculations, the subsidy, including exemption on 7,000 yuan of road fees for three years, is equivalent to a 31 percent discount for the hybrid sedan.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

This dedicated hybrid vehicle will be offered as a 5-door hatchback with seating for five passengers and will employ an exterior design concept that evokes the FCX Clarity fuel cell vehicle, pictured here.

Company claims car will get up to 157 mpg and has top speed of 87mph.

The experimental IC engine in the hybrid drive system combines elements of both gasoline and diesel units, with differing injection and variable compression depending on drive conditions.

READER COMMENTS

blog comments powered by Disqus