China’s carmakers better get their pure plug-ins ready. The central government is set to spend serious money to electrify development and sales. China Daily reports that “a much-awaited government stimulus plan” is ready for government approval and should be in effect in the next couple of months.
Private buyers in five chosen cities (so far unveiled, but the usual suspects apply) will be able to collect close to $9000 if they buy a pure plug-in. Imports need not apply.
Domestic or joint-venture doesn’t matter, but to qualify the electric car must be assembled in China. (Cue complaints from Detroit and DC, protesting the discrimination of non-existent U.S. plug-ins.)
Ironically, it will be mostly private companies that benefit first. Pure electric cars are available in limited numbers from BYD, Chery, ChangAn and Zotye.
“Big State-owned automakers didn’t take the development of electric cars seriously five years ago and now they are feeling the sense of urgency as the smaller rivals have marched in advance,” said Wang Zhenpo, an associate professor at the electric vehicle center of Beijing Institute of Technology.