Beijing revealed the first two EV models qualify for government subsidy

Netherlands Innovation Network ChinaEnergy Leave a Comment

e6_transAs part of a series of measures by the Chinese government to promote production and use of electric vehicles, Beijing yesterday revealed the first two EV models that will qualify for government subsidies. The two models are E150EV produced by Beijing Automotive Group and E6 by BYD. More EV models could later be added to the list provided that they pass necessary tests. The subsidy scheme is not limited only to Chinese made EVs; Chances are open also to foreign brands (previously foreign brands are alleged to be excluded from the subsidy).

Based on the current subsidy plan, buyers who chose an EV with battery capacity of roughly 150 to 250 km per charge will receive a subsidy of RMB 95,000; those who chose vehicles with battery capacities exceeding 250km per charge will be subsidized RMB 114,000. For a BYD E6 (who claims 300 km per charge), its price will be lowered to 195,800 RMB from sticker price of 309,8000 with help of government subsidy. The former case applies to E150EV, which will be priced at RMB 154,800 after cost deduction.

Officials from Beijing Commission of Science and Technology said the government will soon put more efforts on the building of public charging stations. Half an hour’s recharge on a fastest charging pole will enable an EV to run 100 kms.

Expert said that compared with conventional cars, the two domestic EV models are not cheap despite of the government subsidy. Luckily, the EV buyers only need to go through a much less competitive lottery system to get a license plate to run the car on the road. How many people would actually choose an EV, one will have to wait and see.

Leave a Reply

Your email address will not be published. Required fields are marked *