A joint announcement from the Finance, Industry and Information Technology, Science and Technology Ministries, and the National Development and Reform Commission recently unveiled refined technical guidelines and the cutoff date for new energy vehicle purchase incentives. This directive took effect yesterday.
To foster a predictable regulatory landscape, the existing technical criteria and subsidy thresholds for these incentives will persist. Simultaneously, a phased reduction in subsidies will continue. The 2022 new energy vehicle subsidy will be 30% lower than the 2021 level. For vehicles used in urban transit, passenger transport, rentals (including ride-hailing), sanitation, urban logistics, postal services, civil aviation airports, and government operations, the reduction is 20% compared to 2021.
The statement explicitly declared that the 2022 new energy vehicle purchase subsidy program concludes on December 31, 2022. Vehicles registered after this date will not receive financial assistance.
Furthermore, the Ministry of Industry and Information Technology and associated agencies have created an inter-departmental data-sharing system to track fire and major accident reports. They are expediting the development of a vehicle accident reporting framework. Those withholding accident information or refusing to cooperate with inquiries face suspension or revocation of model subsidy eligibility, depending on the severity of the offense.
