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China’s New Electric Vehicle Subsidies: Winners And Losers

On September 17th, the Chinese Ministry of Finance announced the long anticipated renewal of China’s New Energy Vehicle (i.e. electric vehicle or EV) subsidies. The new subsidies for cars were in-line with market expectations, but will be reduced to 10% below the current levels next year, and 20% below the current levels in 2015. Subsidies for buses fell short of expectations.

Conventional gasoline-electric hybrid models were not included in the subsidies, but some plug-in hybrid (PHEV) were. The subsidies amount to 60,000 ($9,802) yuan for pure electric autos with a range over 250 km (155 miles), and 50,000 yuan ($8,168) and 35,000 yuan ($5,718) for EVs with range over 150 km (93 mi) and 80 km (50 mi), respectively. A restriction on the subsidy for low-speed electric vehicles was removed.
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