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China eases consumer loan rules for EV purchases
Reuters | 2017/11/10

BEIJING -- China's central bank on Wednesday eased limits on consumer loans for buyers of electric vehicles, allowing consumers to finance up to 85 percent of the purchase cost.

By contrast, consumers who buy conventional fossil-fuel vehicles can obtain loans to cover up to 80 percent of the vehicle¡¯s price.

Buyers of commercial EVs will be allowed to finance up to 75 percent of the cost, according to a notice posted by the People¡¯s Bank of China and the China Banking Regulatory Commission. 

The new rules will take effect Jan. 1.

China has mandated a long-term market shift to EVs, but it also is phasing out subsidies. Some automakers fear consumer demand alone will not be sufficient to boost EV sales. 

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