Subsidy for new energy vehicle, i.e. plug-in cars. Started in 2010 and is decreasing gradually.
The subisidies was originally due to phase out in 2020. New policy states NEV subsidies will be further extended due to COVID-19. Subsidies to be cut 10% in 2020, 20% in 2021, 30% in 2022
Subsidies on new energy urban buses, commercial passenger vehicles, taxis, sanitation vehicles, urban logistics vehicles, mail services vehicles, airport shuttle buses and government cars will not be reduced this year, but will be cut by 10pc in 2021 and by 20pc in 2022.