GM to offer "NEV subsidy" in China on Buick Velite plug-in
SHANGHAI - General Motors Co <GM.N> said on Tuesday it would offer a 36,000 yuan ($5,233) discount to Chinese buyers on its Buick Velite plug-in hybrid car when it goes on sale in the country later this year.
The carmaker said it would offer the "new energy vehicle" subsidy due to uncertainty over Chinese government subsidies for such vehicles. The Velite gets power from an electric battery system that is recharged using a small gasoline engine.
GM's Buick brand made the announcement at an event ahead of the Shanghai auto show that opens later this week. REUTERS