China Will Offer Rebates for Green Vehicles
China state radio announced that a rebate program will be started up, offering an incentive for people looking to buy green vehicles. And the rebates are for generous amounts. The program is part of a spending plan for green vehicles, and it is being launched to help reduce emissions in major cities. It will apply to battery-powered, fuel cell-powered and hybrid vehicles. Details are still sparse, and even a start date for the program isn't known. But here's what we do know:
The rebates will be cash, in amounts up to 600,000 yuan ($87,719) to buyers of alternative energy passenger cars and buses.
The program will be in 13 major cities, including Beijing and Shanghai.
The bigger the vehicle, the bigger the rebate - ranges are from 50,000 yuan for a hybrid passenger car to 600,000 for a large fuel cell powered commercial bus.
Getting this kind of cash back could really help boost the sale of low or no-emissions vehicles, versus gas guzzlers. And with car sales going through the roof in China, with little thought towards greener driving, the initiative is a very positive step towards making hybrids more affordable.
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