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EV subsidies of a single Shenzhen city exceed $90 million

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How can a city quickly promote new energy vehicles? Subsidies, subsidies, and subsidies! Shenzhen understands it, and its grants to new energy vehicle owners exceeded 580 million yuan ($90 million).

According to the latest news received by CarNewsChina, the Shenzhen Development and Reform Commission issued the “Announcement on the Proposed Funding Status of Shenzhen New Energy Cars Comprehensive Utilization and Replacement Subsidy (Fifth and Sixth Batch) Projects.” Very cool name.

This document shows that a total of 11,529 individual consumers will receive subsidies, involving more than 200 million yuan ($31 million) in grants.

Regarding subsidy standards, newly purchased EVs in Shenzhen with registered license plate number 粤B(Shenzhen is the second-largest city in Guangdong, so the city code is 粤B;粤 is the abbreviation of Guangdong, will be given a one-time subsidy of 20,000 yuan ($3000) per car. Shenzhen government will provide the newly purchased plug-in hybrid high-end passenger vehicles with registered license plate number 粤B a one-time subsidy of 10,000 yuan ($1500) per vehicle.

Can the owner get subsidies if he sells the original car and replaces it with a new energy car? The answer is yes! Donations are up to 40,000 yuan ($6000).

Shenzhen has an effective promotion of new energy vehicles. Carnewschina inquired that on November 2, 2020, the Shenzhen Development and Reform Commission of Guangdong issued “Announcement on the Proposed Funding Status of Shenzhen New Energy Vehicle Comprehensive Utilization, Replacement and Renewal Subsidy (First Batch) Project.”In the first batch, 1,533 new energy cars have received subsidies, with 24.43 million yuan.

In less than a year, a total of 6 batches of Shenzhen’s new energy vehicle owners have received government subsidies. The subsidies amounted to RMB 24.48 Million, RMB 36.07 Million, RMB 163.03 Million, RMB 159.4 million, and more than RMB 200 million. The total subsidy amount exceeds 580 million yuan. At the current exchange rate, the subsidy amount is nearly 100 million dollars.

Whether Shenzhen will continue to subsidize new energy vehicles in the future should continue because there is no news about the suspension of subsidies.

Source: PDO

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