【Will EV Cars In Favor If Beijing Passed Subsidies for EV Buyers?】
Beijing will offer subsidies to consumers who buy new energy vehicles to replace older cars as the city seeks to stabilize and economy hit by Covid outbreaks and control measures.
Those who retire a car registered in the city more than 1 year ago and purchase a new energy vehicle by the end of 2022 will receive a subsidy of as much as 10,000 yuan ($1,499), according to a plan by the municipal government Thursday.
However, the insurance premiums for electric cars can go up to S$5,000 a year. It was more expensive than McLaren and Ferrari.
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