Japan to Boost Subsidy for Electric Vehicle Purchases

Politics

Tokyo, Dec. 15 (Jiji Press)--Japan's Environment Ministry on Tuesday decided to temporarily increase its subsidy for purchasing electric vehicles.

The maximum amount per vehicle will be doubled to 800,000 yen under condition that all electricity used in the buyer's home or office is generated from renewable energy sources.

A total of 8 billion yen in related expenses was earmarked in the fiscal 2020 third supplementary budget plan approved by the cabinet the same day.

Individuals, small companies and municipalities looking to buy electric vehicles will be eligible for the subsidy.

Under the same condition, a subsidy for plug-in hybrid vehicles will also be raised to up to 400,000 yen per vehicle from up to 200,000 yen, while that for fuel cell vehicles will be raised by several hundred thousand yen from the current amount of up to 2.25 million yen per vehicle.

[Copyright The Jiji Press, Ltd.]

Jiji Press