Today, the 2021 financial subsidy policy for the promotion and application of new energy vehicles has been officially announced, with a 20% reduction in subsidies.
According to the new policy, pure electric vehicles with a range of 300-400 km will receive a subsidy of 13,000 yuan, a decrease of 3,200 yuan from last year, while pure electric vehicles with a range of 400 km or more will receive a subsidy of 18,000 yuan, a decrease of 4,500 yuan from last year.
The subsidy for hybrid electric vehicles with a pure electric range of 50 km or more is 6,800 yuan, a decrease of 1,700 yuan from last year. The technical threshold remains unchanged, only the subsidy amount has decreased. According to the information released at the beginning of 2020, the subsidy for new energy vehicles will continue to be reduced by 30% next year.
As subsidies continue to be reduced, the dependence of electric cars on policies in terms of pricing has become lower and lower. This means that the price of power batteries has gradually decreased to a reasonable level.
However, the product strength still needs to be improved. If the growth trend of electric vehicles can be maintained after being completely independent from policies (such as license plates), it will prove that the popularity of electric vehicles has reached a certain level.
In addition, more stringent WLTC range standards have been added for hybrid vehicles. Although the range values are slightly lower than those of the NEDC standards, they are closer to the actual range ability. It is hoped that the transition to the WLTC standard will gradually take place in 2021.
🔗Source: Economic Construction Department of the Ministry of Finance
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.