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Incentives spice up EV purchases in Shanghai

Shanghai authorities may soon offer huge discounts to attract automobile buyers to purchase electric vehicles. This as China unveils its first home-grown all-electric supermini car – the Roewe E50 - as part of a government project for energy-saving vehicles. The new EV costs about 220,000 to 240,000 yuan but buyers could save around 100,000 yuan or $16,000 owing to a rebate from the central government and a subsidy from the municipal government of Shanghai.

The government is also planning to offer free license plates to new owners of electric vehicles while auto manufacturers are considering value-added services to entice buyers to choosing an electric vehicle.

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