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Shenzhen Offers Subsidies to Promote Use of New-Energy Vehicles

The government of Shenzhen city recently approved and circulated the Interim Measures for the Administration of Supporting Funds for Promoting the Use of New-Energy Vehicles. Under the new measures, the purchase and use of new-energy vehicles (except for the use of public buses) and investment in charging equipment are eligible for subsidies ranging between Rmb10,000 and hundreds of thousands of yuan.

Subsidies will be offered to the purchase and use of new-energy vehicles (measures governing subsidies for pure electric public buses will be promulgated separately), the building of charging equipment (including charging facilities built by new-energy vehicle operators in the city for their own use); the recycling of power cells of new-energy passenger vehicles; and other projects approved by the city government.

The interim measures also specify the actual amounts of various subsidies. For vehicle purchase, subsidies vary between Rmb300,000 and Rmb500,000 for pure electric buses, between Rmb35,000 and Rmb60,000 for pure electric passenger vehicles, Rmb500,000 for fuel-cell commercial vehicles, and Rmb200,000 for fuel-cell passenger vehicles. Subsidies for the use of pure electric passenger vehicles range from Rmb10,000 to Rmb20,000. For charging equipment, subsidies amounting to 30% of investment in centralised charging equipment (stations, poles and devices) will be offered to the builders.

Content provided by Picture: HKTDC Research
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