Government measures aim to rev up sales of new-energy vehicles
A policy aiming to encourage more local residents to buy energy-saving electric cars - by offering free license plates and rebates - has been unveiled by the Shanghai authorities.
The city's move comes two years after the central government released detailed subsidy measures to boost the new-energy vehicle market.
Under the central government measures, a rebate of up to 60,000 yuan ($9,625) is offered on the purchase price to buyers of battery-powered cars, while the Shanghai municipal government is offering an extra subsidy of up to 40,000 yuan and a free license plate.
"It is a turning point for Shanghai to promote new-energy vehicles, which will also bring more confidence and profits to local automobile retailers, auto parts businesses and other car-related companies," said Rong Wenwei, general manager of Shanghai International Automobile City.
Local retailers of electric vehicles have already benefited to a certain extent from the subsidy policies.
"We've sold 500 new-energy cars since the launch of our store two years ago, with the majority of buyers coming from Shanghai," said Zeng Xiangyi, executive director of TZGEV Ltd, which opened the first electric car 4S store in Shanghai in 2011, according to China Business News.
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