The Accelerated Retirement of Inefficient Vehicles Retirement Act of 2009 (ARIVA)—also called the “Cash for Clunkers” program—would reimburse drivers with a credit of up to $4,500 for scrapping vehicles with a when-new fuel economy rating of less than 18 mpg US as reported by the original manufacturer for purposes of CAFE compliance if they trade for a new or nearly new car that exceeds CAFE by 25%.
From March 1 until Dec. 31 the chinese government plans to spend 5 billion yuan on one-time subsidies to farmers opting to replace three-wheeled vehicles or outdated trucks with small, 1.3-liter engine or less vehicles
The chinese government also earmarked 10 billion yuan for technological innovation and the development of alternative fuel cars and components over the next three years.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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