Shanghai extends subsidies for electric car replacements

Shanghai will continue to give cash subsidies to bolster sales of new-energy vehicles until the end of June.

According to the latest action plan to boost confidence, expand demand, stabilize growth and promote development, the city is extending its new-energy vehicle subsidy policy for another half year.

Individual consumers who buy new entirely electric vehicles to replace old cars will receive a financial subsidy of 10,000 yuan (US$1,480) for each new vehicle until June 30.

To be noted, the old vehicle to be replaced should be a passenger car (covering both fossil fuel vehicles and NEVs) with a Shanghai car license plate, while commercial vehicles are not included.

The new car, meanwhile, should be a qualified as a pure electric passenger vehicle to be registered for the first time, with an invoice issued between June 1, 2022 and June 30, 2023.

Consumers need to complete the registration of new vehicles before July 31, while the old cars have to be scrapped or sold between June 1, 2022 and June 30, 2023.

The application for subsidies can be easily done via the Chexinmeng online platform at http://xfbt.chexinmeng.com/apply2022/home/home.html.