TOKYO, Dec 19 (News On Japan) –
The Ministry of Economy, Trade and Industry announced that it will increase subsidies for environmentally friendly vehicles such as electric vehicles by 400,000 yen.
Under a revision to the clean energy vehicle promotion subsidy program, the ministry said it will raise the maximum subsidy for EVs by 400,000 yen to a ceiling of 1.3 million yen.
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At the same time, subsidies for fuel cell vehicles, or FCVs, will be reduced by 1.05 million yen, lowering the maximum amount to 1.5 million yen.
The revision comes after the United States pointed out that Japan’s subsidies for FCVs were comparatively high, with the ministry saying the changes were made to improve fairness among different vehicle types in line with agreements reached in Japan-U.S. tariff negotiations.
The new subsidy levels will apply to vehicles newly registered as new cars on or after January 1 next year.
Source: TBS
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