China will offer subsidies for electric vehicle purchases in five cities, the Ministry of Finance said Tuesday.
As part of efforts to save energy and reduce emissions, China will offer a subsidy of up to CNY60,000 for each electric vehicle purchased in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei, the ministry said in a statement on its website.
The new subsidy was jointly launched with several government agencies, including the economic planning agency, the ministry said, without disclosing a time frame for the subsidy.
The central government urged municipal governments to invest in relevant infrastructure for electric vehicles, such as battery recharging stations, the statement said.
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