Shanghai to Start Alternative-Energy Car Subsidies, Netease Says

Shanghai will start subsidizing purchases of alternative energy-powered vehicles by the end of June, Netease reported on its website.
The city plans to give 20,000 yuan ($3,074) in subsidies for buyers of plug-in hybrid cars and 40,000 yuan for pure electric cars, the report said, citing Lu Xiaochun, vice chairman of Shanghai’s science and technology commission. China is already offering buyers nationwide subsidies of as much as 60,000 yuan.
China, the world’s largest vehicle market and second- biggest crude-oil importer, is promoting alternative energy- powered vehicles to cut oil imports and rein in pollution. The nation aims to have 13 million all-electric and plug-in hybrid electric vehicles by 2020, making it the biggest market for such cars, according to the World Electric Vehicle Association.
Shanghai’s city government press office couldn’t immediately confirm the Netease report.
The city will boost buying of alternative energy-powered vehicles to 1,000 by the end of the year through bulk purchases, leasing and private consumer use, according to the municipal government’s website. Shanghai will set up 770 charging posts and four stations to facilitate the adoption of electric and hybrid cars, according to the government website.