New rules to benefit NEV sector
THE newly-implemented subsidy policy for new energy vehicles will aid the industry’s high-quality development.
From Tuesday, vehicles with a driving range below 150km will not get subsidies, vehicles with a 150km to 300km driving range will receive minimal subsidies, and those with over 300km will receive the most, according to the new policy released by the Ministry of Finance.
Battery power/weight requirements for getting subsidies have also been raised from 90wh/kg to 105wh/kg.
“The new policy featuring enhanced energy density and better battery efficiency will upgrade the industry and boost its high-quality development,” said Cui Dongshu, secretary general of the China Passenger Car Association.
Analysts say the new rules will benefit China’s NEVs industry.