Shenzhen offers subsidies of up to $1,370 to encourage purchase of NEVs | Shenzhen NEVs

The southern Chinese mega-city of Shenzhen has introduced a new policy to encourage residents to buy New Energy Vehicles (NEVs). 🚗

Before the end of this year, Shenzhen residents can receive a subsidy of up to RMB 10,000 ($1,370) if they trade in or retire cars that meet China’s emission standards Ⅳ or lower and purchase an NEV, as stated in a document released today to boost consumption. This subsidy is additional and won’t impact residents’ eligibility for other available subsidies.


Shenzhen, the headquarters of BYD, also promotes the use of new or clean energy for tourist passenger vehicles, gardening vehicles, and mechanical equipment. Companies can enjoy subsidies of up to RMB 50,000 per vehicle when acquiring eligible new energy tourism passenger vehicles, new energy gardening operation vehicles, and mechanical equipment.

Furthermore, Shenzhen plans to encourage the replacement of fuel-powered official vehicles, police vehicles, and vehicles used by state-owned enterprises with NEVs when they are scrapped.

In China, NEVs encompass Battery Electric Vehicles (BEVs), Plug-in Hybrids (PHEVs), and Fuel Cell Vehicles.

Shenzhen aims to enhance infrastructure development, with a goal of constructing a total of 450,000 charging stations by the end of 2024.

Similarly, East China’s Shanghai implemented a similar policy on May 21, 2022, offering residents a subsidy of RMB 10,000 per vehicle when they buy a pure electric vehicle while retiring or transferring their old vehicles. This policy in Shanghai initially expired on December 31, 2022, but it was extended earlier this year to June 30 of this year. On September 12, Shanghai announced a further extension of the policy until December 31, 2023. Shanghai is home to Nio’s global headquarters and Tesla’s China factory. 🇨🇳🔌🌱

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