NIO provides RMB 11,200 subsidiary for per ES8 before June 11

Shanghai (Gasgoo)- From now on until June 11 this year, NIO, a China's electric vehicle (EV) startup, will provide a subsidiary of RMB 11,200 per vehicle for the ES8 buyers, according to local media who received the information from the startup. 

On February 13, 2018, the Ministry of Finance of the People's Republic of China released a notification saying that the transitional period before 2018 new energy vehicle (NEV) subsidiary policy begins is from February 12, 2018 to June 11, 2018. During these four months, NEVs will receive the 70% of the subsidiary amount specified in 2017 NEV subsidiary policy. 

Under the current policy, the consumer who buys NIO ES8 can enjoy a subsidiary of RMB 33,880 per vehicle from the central government before June 11, 2018. After this date, the ES8 buyer will receive a state subsidiary of RMB 45,000 per vehicle.

Thus, NIO stated that the company will provide a subsidiary of RMB 11,120 per vehicle for the customer who buys ES8 before June 11. The automaker tries to offset the price gap that consumers will face during the transitional period by offering extra subsidiary.