China deliveries of EVs, plug-in hybrids triple in first 2 months
Sales of electric vehicles and plug-in hybrids in China nearly tripled to 12,440 vehicles in the first two months from the same period a year earlier, reports the China Association of Automobile Manufacturers.
Automakers delivered 5,996 EVs and 6,444 plug-in hybrids in January and February.
In China, only locally produced EVs, plug-in hybrids and fuel cell-powered vehicles qualify for government subsidies up to 55,000 yuan ($8,800), while buyers of electric buses qualify for up to 500,000 yuan.
The central government exempts buyers of EVs and plug-in hybrids from a 10 percent vehicle sales tax. Conventional hybrids, such as the Toyota Prius, don't quality for the subsidies or sales tax exemption.
Imports such as the Tesla Model S electric car don't qualify either. Unable to meet its sales target, Tesla has started laying off as many as 30 percent of its employees in China, reported the Economic Observer, a Beijing-based newspaper.
Sales of EVs and plug-in hybrids have jumped sharply over the past year, but the industry lags behind Beijing's goal of putting 5 million such vehicles on Chinese roads by 2020.
In China, only locally produced EVs, plug-in hybrids and fuel cell-powered vehicles qualify for government subsidies up to 55,000 yuan ($8,800), while buyers of electric buses qualify for up to 500,000 yuan.
The central government exempts buyers of EVs and plug-in hybrids from a 10 percent vehicle sales tax. Conventional hybrids, such as the Toyota Prius, don't quality for the subsidies or sales tax exemption.
Imports such as the Tesla Model S electric car don't qualify either. Unable to meet its sales target, Tesla has started laying off as many as 30 percent of its employees in China, reported the Economic Observer, a Beijing-based newspaper.
Sales of EVs and plug-in hybrids have jumped sharply over the past year, but the industry lags behind Beijing's goal of putting 5 million such vehicles on Chinese roads by 2020.
