Why Dont Chinese Consumers Buy EV’s? Because They Are Too Expensive
Published March 1, 2013
According to Forbes contributor, Kenneth Rapoza, Chinese consumers arent looking to EVs or hybrids due to a lack of government subsidies:
The Chinese government is trying to protect its ailing electric vehicle market by agreeing Thursday to extend subsidies to the industry.
China will subsidize electric vehicles sold in 25 cities, expanding from the current five cities, and adopt a unified national subsidy standard, The 21st Century Business Herald reported on Wednesday citing China Association of Automobile Manufacturers.
?The new subsidy policy for electric vehicles (EV), still under research, will be issued soon, possibly shortly after the two sessions of NPC and CPPCC, Ye Shengji, deputy secretary general of China Association of Automobile Manufacturers, was quoted as saying.
Beijing?s subsidies for EVs was introduced in 2010, but the policy was terminated last year.
China?s first purely electric car hit the market last summer as part of a government-sponsored project to encourage the use of energy-saving vehicles in the most polluted country on Earth. The Roewe E50 EV, sold first in Shanghai, pulled around $16,000 from its sticker price thanks to government subsidies. The E50 was developed by the Shanghai Automotive Industry Corp.