What is the New Energy Vehicle Subsidy Policy?
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2018 The new energy vehicle subsidy policy was officially implemented on June 12, 2018. The transition period was from February 12, 2018, to June 11, 2018. The new policy stipulates that the subsidy amount for new energy vehicles is not only based on the driving range but also takes into account two important factors: battery energy density and vehicle energy consumption. Relevant details are as follows: 1. Subsidy content: During the transition period, new energy passenger vehicles and new energy buses registered during this period received subsidies at 0.7 times the 2017 subsidy standard; new energy trucks and special-purpose vehicles received subsidies at 0.4 times the standard, while the subsidy standard for fuel cell vehicles remained unchanged. It is also important to note that, in addition to national subsidies, local governments may provide additional subsidies. According to national regulations, local government subsidies per vehicle must not exceed 50% of the central government's subsidy per vehicle. 2. Subsidy standard reduction: During the "13th Five-Year Plan" period, the government implemented subsidy policies for pure electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles, with subsidy standards gradually decreasing each year. Specifically: the subsidy standard for 2017-2018 was reduced by 20% compared to 2016, the subsidy standard for 2019-2020 was reduced by 40% compared to 2016, and after 2020, the subsidy policy was completely phased out.
