Ministry of Finance Announces Subsidies for Hybrid and Electric Cars Sold in Five Cities

The Ministry of Finance announced yesterday that as of June 1, producers of hybrid and electric cars sold in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei will receive subsidies of up to a maximum of 50,000 yuan for plug-in hybrids and 60,000 yuan for electric cars. The subsidies will be given to the car manufacturers and passed on buyers via lower prices.