(ECNS) -- Beijing may exhaust the quota allocated for the purchase of new energy vehicles by August this year due to strong market demand, China Radio International reported.
On April 8, a total of 11,327 individuals and 1,616 enterprises had applied to purchase new energy cars. Beijing has limited the total annual quota of new energy cars to 60,000 this year, including 51,000 for individuals.
Based on the number of current applications this year, Beijing will use all its quota of new energy vehicles sometime between August and October, the report said.
To cut emissions and save energy, the capital city was one of the earliest cities in China to promote the use of new energy vehicles, taking measures such as subsidies, infrastructure support, road use control, and a less competitive license plate lottery system.
As the government introduces more incentives to get drivers to go electric, the individual application for new energy car purchases will also become more competitive, according to industry insiders.
