Fewer cars in China el­i­gi­ble for sub­si­dies

New Straits Times - - Business -

BEI­JING: China on Wed­nes­day is­sued its sec­ond list for this year of green en­ergy ve­hi­cles el­i­gi­ble for sub­si­dies, with the num­ber of ap­provals slow­ing amid stricter over­sight in the wake of a cheat­ing scan­dal.

The lat­est list from the Min­istry of In­dus­try and In­for­ma­tion Tech­nol­ogy takes the to­tal num­ber of bat­tery elec­tric and hy­brid ve­hi­cles el­i­gi­ble for sub­si­dies this year to 386, down on the 713 mod­els given the green light by the same date last year.

China has ag­gres­sively pro­moted green en­ergy ve­hi­cles to com­bat pol­lu­tion and pro­mote tech­no­log­i­cal in­no­va­tion, spend­ing bil­lions of dol­lars in sub­si­dies, but has stepped up over­sight af­ter pe­nal­is­ing dozens of com­pa­nies last year for cheat­ing the sub­sidy pro­gramme.

Sales of bat­tery elec­tric and plug-in hy­brid cars lost 74.4 per cent in Jan­uary un­der the new regime said China’s car­mak­ers as­so­ci­a­tion last month.

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