What is the New Energy Vehicle Subsidy Policy?

[SanEzra]

New energy vehicle subsidies are decreasing year by year. The following is a detailed introduction to the new energy vehicle subsidy policy: Yearly Reduction: From the subsidy standards, it shows a yearly reduction from 2020 to 2022. The subsidy phase-out is gradual and moderate in intensity and pace. In principle, the subsidy standards for 2020-2022 are reduced by 10%, 20%, and 30% respectively compared to the previous year. Subsidy Regulations: Pure electric passenger vehicles with a range of less than 300 kilometers receive no subsidy. Subsidies for pure electric passenger vehicles with a range of 300-400 kilometers (including 300 kilometers) are reduced. Subsidies for pure electric passenger vehicles with a range of over 400 kilometers (including 400 kilometers) are also reduced. For vehicles in urban public transport, road passenger transport, taxi (including ride-hailing), sanitation, urban logistics distribution, postal express, civil aviation airports, and official vehicles of party and government agencies that meet the requirements, the subsidy standard is reduced by 10% compared to 2020.