Wednesday, November 14, 2012

Shanghai issuing 20,000 free license plates for new energy cars

November 13 | By Tony Zhu
Shanghai's government has begun to release 20,000 free plates for energy-saving cars, a strong local push which may eventually affect the entire country’s new energy vehicle industry.
In addition, Shanghai will also grant 40,000 yuan per unit for the purchase of alternative energy cars. Coupled with the central government’s subsidy of up to 60,000 yuan and the license plate worth 60,000 yuan, a buyer of an energy-saving car in the city can enjoy a subsidy of as much as 160,000 yuan--about 75 percent of a premier alternative energy sedan.
The average price for a Shanghai car plate hit a record high of 66,425 yuan ($10,528) last month, up 25 percent from January.
Several other cities are also considering similar preferential policies. Guangdong officials have also mentioned plans to encourage greater new energy vehicle use in the province, including offering a green channel in plate auctions.
Over the first nine months of the year, a total of 6,982 new energy automobiles were sold in China, including 3,009 pure electric vehicles.

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