Price of a small electric car in Shanghai could more than quadruple under plans to scrap free licence plates for cheap EVs

May 10, 2021 | INVESTING

Cheap electric cars in Shanghai are about to get a lot more expensive. According to dealers and local media, the city’s government is about to stop issuing free licence plates to their buyers, a move that could more than quadruple the price of getting a small battery-powered car on the road.

The policy change, expected to be announced in the coming weeks, is sure to dent demand for some of the bestselling electric vehicle (EV) models such as the Hongguang Mini EV and Ora-branded cars.

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