China has approved cars made by Warren Buffett-backed BYD and 15 other Chinese automakers and joint ventures to receive fuel-efficiency subsidies of CNY3,000 (US$441) per vehicle, a top government agency said on Wednesday.
Energy-saving cars made by Hyundai and Ford-Mazda JVs are also among the approved models, the National Development and Reform Commission said on its website, according to Reuters.
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Beijing also unveiled a pilot programme in five Chinese cities earlier this month to subsidise buyers of electric and hybrid vehicles as it steps up efforts to cut emissions in the world’s biggest auto market.
The maximum subsidy for buyers of fully electric cars was set at CNY60,000 while plug-in hybrid cars could get up to CNY50,000.
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