What is the New Energy Vehicle Subsidy Program?

[OEvan]

Here is a detailed introduction to the new energy vehicle subsidy program: 1. Annual reduction: From the subsidy standards, there is a year-by-year reduction from 2020 to 2022. The subsidy phase-out intensity and pace are moderated, with the subsidy standards in principle decreasing by 10%, 20%, and 30% respectively from the previous year during 2020-2022. 2. Subsidy regulations: Pure electric passenger vehicles with a range below 300 kilometers receive no subsidy; those with a range of 300-400 kilometers (including 300 kilometers) see a reduced subsidy; those with a range above 400 kilometers (including 400 kilometers) also see a reduced subsidy. For vehicles in urban public transport, road passenger transport, taxi (including ride-hailing), sanitation, urban logistics distribution, postal and express delivery, civil aviation airports, and government agency official use that meet the requirements, the subsidy standard is reduced by 10% from the 2020 level.