China To Scale Back Electric Car Subsidy Cuts
China has reduced planned cuts to subsidies for electric vehicles, as the government continues its efforts to combat pollution. From Bloomberg Businessweek:
Subsidies for 2014 will be cut by 5 percent, instead of the previously announced 10 percent, and decreased by 10 percent in 2015, instead of 20 percent, the finance ministry said in a joint statement with the National Development and Reform Commission, technology and industry ministries.
[...] To combat air pollution, China’s State Council, or cabinet, released a national plan in September that called for a 15 percent to 25 percent reduction in particulate matter by 2017 in the three key manufacturing regions anchored by Beijing, Shanghai and Guangzhou.
The government announced in September it would gradually decrease subsidies as it renewed its current program, which provides as much as 60,000 yuan ($9,900) toward the purchase of an all-electric passenger vehicle and as much as 500,000 yuan for an electric bus. [Source]