In order to stimulate the weakening sales of electric cars and plug-in hybrids, four Chinese cities are now temporarily offering their own purchase premiums for electrified vehicles produced in China by certain manufacturers.
Changsha, the capital of the central Chinese province of Hunan, is now the fourth major Chinese city to start its own promotion for electrified vehicles. The city has now announced that it will subsidize new cars built in the region with up to 3,000 yuan (around 385 euros) until June 30, 2020. This is intended to contain the effects of the coronavirus crisis, which had led to a slump in new car sales. The five car manufacturers benefiting from the scheme are the Chinese manufacturers BYD and Leopard Motors, as well as Mitsubishi, Fiat Chrysler and Volkswagen.
At the beginning of March, the city of Xiangtan, also located in Hunan province, also offered a purchase premium of 3,000 yuan – for the first 3,500 customers who buy a Geely new car from local production.
The cities of Foshan and Guangzhou in the southern Chinese province of Guangdong had already introduced similar subsidies in February. Foshan subsidises the purchase of new cars with 2,000 Yuan and the exchange of an existing vehicle with 3,000 Yuan. Among other things, there is a large VW plant in Foshan.
In Guangzhou, where among others the Chinese manufacturer GAC produces for its joint ventures with Toyota, Honda and FCA, 3,000 Yuan is also paid for the exchange of a vehicle. New Energy Vehicles, i.e. pure electric cars and plug-in hybrids, are even subsidized with up to 10,000 yuan (approx. 1,285 euros).
With reporting by Sebastian Schaal, Germany.
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