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Japan has decided to end a government subsidy program to encourage purchases of environmentally friendly cars as funds dwindle. According to the Ministry of Economy, Trade and Industry, the government only has ¥2.5 billion (US$32 million) left of the ¥274.7 billion (US$3.5 billion) allocated for the program.
In March, BYD chief executive officer Wang Chuanfu announced that in the first half of 2010 the company will sell only 100 e6 cars, to a taxi company in Shenzhen. Chinese green-car subsidies on hold. The uncertainty surrounding Chinese demand for electric cars is tied to subsidies, Mr. Yang says.
If you listen to US President Barack Obama it has been a long time coming – his decision to pour $2.4billion of stimulus money to make America a global leader in electric and hybrid car development comes as the country plays catch up to the likes of Japan and even China in the greencar race (see article ). “I
A report in the People’s Daily quotes Chen Bin, director of the Department of Industry under the NDRC, as stating that Chinese car manufacturers were originally expected to produce and sell more than eight million units of vehicles in the first eight months of the year. Tags: CarsGreencars Latest news.
In the future, emission laws from the various countries will become more harmonised and with a global technology platform in place, it is hoped that the Volvo Group will be able to generate economies of scale in research and development, as well as purchasing and production.
Thomas Crossley, a programme director at IFS, commented: “The Government’s car scrappage scheme will offer a £2,000 discount to people who scrap a licensed car that is at least 10 years old and purchase a new vehicle by March 2010. As fiscal stimulus, this measure benefits one industry. This will mean fewer sales later.
According to Knittel the results suggest that the programme is an expensive way to reduce carbon, although he does state that it is possible the stimulus benefits outweigh added environmental costs. So is this scheme green at all? When the cash for clunkers scheme was introduced, we at TheGreenCarWebsite.co.uk
GreenCar Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). by Bill Cooke. Billion vs. $28.3 Billion in 2008). Anderson has worked in power industry finance since 1992. Five months ago.
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