This notice lays out the five areas of improvement to strengthen financial subsidy policy to further promote and accelerate deployment of New Energy Vehicles (NEV) in China. The objective is to further adjust the policy framework to the development of the NEV market and create enabling conditions for further scale up of the NEV market. The five priority areas for improvement comprise of:
- Optimising technical indicators
- Improving subsidy standards
- Improving the liquidity and efficiency of funds
- Creating a fair environment and enable demand
- Strengthening quality supervision to ensure vehicle safety
The notice is accompanied by a list of technical requirements, which lays out the specifications that NEVs must meet in order to qualify for the subsidy support. NEVs covered include, electric vehicles, plug-in hybrids and fuel-cell vehicles.