China may increase subsidies for gasoline-electric automobiles and other fuel-efficient vehicles, Bloomberg News reports.
Speaking with reporters at the National People’s Congress in Beijing, China’s Minister for Industry and Information Technology Miao Wei said it is more “realistic and practical” for the government to promote hybrids and other fuel-efficient vehicles than just electric vehicles.
“New-energy vehicles are the future. Fuel- efficient cars are now,” Miao said.
The Chinese government intends to introduce the amended policy in the first half, though the plan needs to be coordinated with the finance ministry and other government branches, Miao said.
China has forecast cumulative electric-car sales to reach 500,000 by 2015, but 2012 saw 13,000 models sold.
China last year concluded a three-year trial program that provided subsidies of the equivalent $9,650 for pure electric vehicles and $8,045 for plug-in hybrids. Regular hybrids only got a subsidy of just $482.73.
Source: Bloomberg News
