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.
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