China to subsidize electric car purchases in 5 cities
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China Tuesday released details of its green-car subsidy program designed to boost the nation's auto industry and cut vehicle emissions.
Through the program, subsidies of up to 60,000 yuan (8,784 U.S. dollars) will be given to buyers of pure electric vehicles in the five cities chosen for the pilot program, the Ministry of Finance said in a statement on its website.
Buyers of plug-in hybrid cars will receive up to 50,000 yuan in subsidies.
The cities chosen for the pilot program are Shanghai, Changchun, Shenzhen, Hangzhou and Hefei.
China is the world's largest auto market.
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