New-energy vehicle policy shifts gears
By He Wei in Shanghai | China Daily | Updated: 2013-09-18 07:48
China adjusted its subsidy program for new-energy vehicles on Tuesday, with the scope and depth of the policy narrowing.
The move is in line with earlier remarks made by a senior official indicating that the country would shift the direction of the financial backing program for the sector.
The long-awaited blueprint, which was issued by four ministries led by the Ministry of Industry and Information Technology and the Ministry of Science and Technology, will resume the three-year purchase incentive that ended last year, in a bid to help electric vehicles gain further traction.
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