In 2018, the new energy vehicle (NEV) subsidy policy underwent significant adjustments to promote sustainable development and improve the quality of electric vehicles. The central government, along with local authorities, set financial support mechanisms that aimed to encourage innovation and reduce reliance on subsidies over time. These policies were designed to align with national goals for environmental protection and technological advancement in the automotive sector.
The central and local financial subsidies were structured so that local contributions would not exceed 50% of the central subsidy. For models in the NEV catalog, tax exemptions on vehicle purchases were available until December 31, 2017. The subsidy amounts varied based on the vehicle type and its driving range. For example, pure electric vehicles (PEVs) with a range between 100 to 150 km received a subsidy of ¥20,000 per unit, while those with a range above 250 km received up to ¥44,000. Extended-range electric vehicles (EREVs) with a range of at least 50 km got a subsidy of ¥24,000, and fuel cell vehicles received a substantial ¥200,000 per unit.
Beijing followed a similar model, offering a 50% local subsidy on top of the central one. For instance, a PEV with a range of 100–150 km would receive a total of ¥30,000 in subsidies, and a vehicle with a range over 250 km could get up to ¥66,000. Additionally, Beijing imposed warranty requirements: three years or 60,000 km for the vehicle and five years or 200,000 km for key components like batteries and motors. NEVs also benefited from an "unlimited" policy, allowing free access to certain roads and parking privileges.
Shanghai had a similar approach, with subsidies for PEVs and EREVs, and offered free license plates for eligible models. In Guangzhou, only non-individual buyers were eligible for local subsidies, and vehicles needed to accumulate 30,000 km of use before receiving the full amount. Hybrid models could also qualify for smaller local subsidies.
Other cities, such as Shenzhen and Tianjin, introduced additional benefits like reduced tolls, charging fees, and parking discounts. The Ministry of Finance was actively discussing the direction of the 2018 subsidy policy, with multiple versions circulating among industry stakeholders. As the end of 2017 approached, the public anticipated the official announcement of the new regulations.
One of the main changes in the 2018 policy was the refinement of the subsidy structure. The cruising range thresholds became more precise, and battery energy density requirements were increased. For example, the minimum energy density for PEVs was raised from 90 Wh/kg in 2017 to 105 Wh/kg in 2018, with higher densities qualifying for increased subsidies. The subsidy per kWh was capped at ¥1,100, ensuring that incentives remained focused on high-performance vehicles.
For buses, the subsidy cuts were even more severe, with reductions of nearly 40%. The maximum national subsidy for pure electric buses dropped from ¥230,000 to ¥180,000, and the combined central and local subsidy limit was set at ¥270,000. Energy density requirements were also tightened, especially for non-fast-charged models.
Trucks and special-purpose vehicles saw similar adjustments, with the national subsidy cap lowered to ¥100,000. Battery energy density standards were raised to 115 Wh/kg, reinforcing the push for more efficient power systems.
Overall, the 2018 policy marked a shift toward supporting higher-quality, more efficient electric vehicles while gradually reducing the overall level of subsidies. This move aimed to foster long-term sustainability in the NEV market and encourage manufacturers to focus on innovation rather than short-term financial gains.
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