(Yicai Global) June 27 -- Beijing is attempting to boost upgrades from gas-powered cars to electric vehicles by offering subsidies up to CNY10,000 (USD1,495) per purchase.

Eligible consumers can receive the subsidy for purchases done by December, the municipal finance bureau and six other government arms said in a joint notice yesterday.

Buyers need to have owned their locally registered gasoline cars for more than one year before changing to a new energy vehicle from a seller in Beijing in order to be eligible for the subsidy.

Electrification has been reasonably slow in the capital city. In the first quarter of this year, China's top city for NEV sales was Shanghai, followed by Shenzhen, and Hangzhou. Beijing was No. 6, according to public data.

The administrative hub aims to accelerate the shift to cleaner transportation. According to Beijing's 14th Five-Year Plan, the number of registered NEVs should rise to two million units by 2025, or 30 percent of the total, up from 6 percent.

Beijing currently has 507,000 registered NEVs and over six million gasoline vehicles. Consequently, the share of NEVs should increase significantly to reach the 2025 target. That would mean that the current quota of 60,000 granted license plates per year is not enough.

In April, the municipality said that it will raise the number of new NEV license plates and guide more passenger car buyers to shift to NEVs.

Editor: Emmi Laine, Xiao Yi