China to continue to subsidize purchases of electric vehicles in 2011

China’s Ministry of Finance (MoF) announced on Friday that it will continue to offer subsidies for buying electric vehicles with lithium ion batteries in 2011.

However, the MoF did not elaborate the specific measures of the subsidy policy.

China now offers a maximum of 60,000 yuan subsidy for the purchase of electric cars with lithium ion batteries and a maximum of 50,000 yuan for the purchase of hybrid electric vehicles.

Besides this, the government also gives a one-off subsidy of 3,000 yuan each for purchase of automobiles with a displacement no more than 1.6 liters.