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Electric vehicles may win new subsidies in China

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China continues support for electric vehicles

China has been making efforts to become more environmentally friendly over the past few years. Much of the country’s most recent efforts involve the use of renewable energy and targeting the transportation sector as a way to mitigate carbon dioxide emissions. In December 2012, the country’s subsidies for electric vehicles came to an end. This initiative helped bolster the sales of electric vehicles in densely popular parts of China as the subsidies made these vehicles more affordable to a wide range of consumers.

New subsidy program could boost interest in clean transportation

Though the subsidies that it offered to consumers interested in electric vehicles ended in 2012, China still has an interest in clean transportation. In fact, the Central Government is currently considering a new program that will provide renewed subsidies to those interested in purchasing electric vehicles. BYD, a developer of electric vehicles, claims that this program is on the fast track for approval and subsidies could be issues to consumers and the auto industry as early as April of this year.

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