Electric cars subsidy based on performance

China's new electric cars subsidy policy will be divided into 16 levels, and cars will be subsidized in accordance to its actual energy-conserving performance, not the technology that it adopts, said Miao Wei, minister of Industry and Information Technology.

The new policy is expected to be introduced by June, National Business Daily reported Thursday.

"Under the policy, more electric cars are eligible for subsidies. It will encourage people to buy electric cars," said Wang Binggang, director of the supervision and consultation group of the National 863 Key Project of Energy Conservation and New Energy Automobiles.

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