2019 New Energy Vehicle Subsidy Policy Released

2019 New Energy Vehicle Subsidy Policy Released

On March 26, China’s Ministry of Finance, Ministry of Industry and Information Technology, Ministry of Science and Technology and National Development and Reform Commission jointly released the 2019 new energy vehicle subsidy policy and its technical requirements, revealing the details of subsidy standard and technical requirements toward new energy vehicles.

The new policy set a transitional period from March 26 to June 25, 2019.

During the transitional period, the sold new energy vehicles that meet the 2018 technical requirements but do not meet the 2019 technical requirements will only receive 10% of the corresponding subsidy based on 2018 subsidy standard. Meanwhile, the sold new energy vehicles that meet the 2019 technical requirements will receive 60% of the corresponding subsidy based on 2018 subsidy standard.

Moreover, the fuel cell vehicles that sold during the transitional period will receive 80% of the corresponding subsidy based on 2018 subsidy standard, and the new subsidy policy for fuel cell vehicles and new energy buses will be released later.

The 2019 subsidy policy towards new energy passenger cars includes two standards. The subsidy on cars with battery life less than 250km is cancelled, and the subsidy on cars with battery life between 250km and 400km is 18,000 RMB each, down 60% Y-O-Y. Moreover, the subsidy on cars with battery life more than 400km is 25,000 RMB each, down 50% Y-O-Y. Besides, the subsidy on plug-in hybrid cars is 10,000 RMB each, down 55% Y-O-Y.

Meanwhile, the subsidy on new energy passenger cars and new energy vehicles for special purpose also significantly drops.

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