THE sale of new-energy cars, including electricity-powered vehicles, between January and October reached 5,510, five times more than the same period last year, thanks to a package of preferential measures from State and city governments.
Figures from the Shenzhen Office of State Taxation Administration showed it had given exemption of 128 million yuan (US$20.10 million) in taxes for 5,510 vehicles in the first 10 months of the year.
Residents planning to buy electric vehicles in Shenzhen can get city government subsidies up to 60,000 yuan, in addition to the State subsidy of up to 60,000 yuan. The city subsidies are from a 5-billion-yuan fund that was approved to encourage use of new-energy vehicles. These subsidies are mainly aimed at covering the costs of insurance, tolls, installation of charging stations and the cost of charging batteries. The city government is also encouraging taxi companies to use electronic cars in their fleets by offering subsidies. A taxi company will be subsidized 55,800 yuan for each regular vehicle it replaces with a new-energy car. Shenzhen Daily