China announces new electric car subsidy program

China is introducing a new round of subsidies for fuel-efficient vehicles as part of its efforts to curb pollution, Bloomberg reported. The central government will provide as much as US$9,800 toward the purchase of an all-electric passenger vehicle and as much as US$81,600 for an electric bus, according to a joint statement by the National Development and Reform Commission and finance, science and industry ministries. Fuel-cell vehicles, which are powered by hydrogen, were included for the first time in the plan but subsidies for hybrid cars were included only in a separate plan with far lower incentives.