China halves NEV subsidy to support only long-range, high-energy density vehicles

摘要

China’s new energy vehicle (NEV) subsidies in 2019 will only bepayable for electric vehicles with higher driving range and energydensity, while the value of the subsidy will be reduced by 50% to amaximum of 25,000 yuan ($3,725) per vehicle produced.China’s Ministry of Industry and Information Technology (MIIT)released the new subsidy policy for 2019 on Tuesday March 26, whichshows another reduction on the previous year’s subsidy value.The 2019 NEV subsidies for pure electrical vehicles have beenlowered to 18,000 yuan or 25,000 yuan per vehicle produced,depending on the NEV’s driving range, battery energy density andenergy consumption. This marks a 50-60% reduction fromsubsidies in 2018.