Shanghai extends validity period of subsidy on all-electric passenger vehicle purchase

Shanghai (Gasgoo)- On May 6, the Shanghai Municipal Development & Reform Commission and the Shanghai Municipal Finance Bureau jointly issued a notice regarding the adjustment of some content in the "Implementation Rules of Shanghai Municipality for Promoting Automobile Consumption Subsidies", which was originally released in June 2022 to spur car sales.

The new notice clarifies the adjustments to the scope and standards of car shopping subsidies. From June 1, 2022 to June 30, 2023 (purchase date), individual users who scrap or transfer (excluding registration changes) their privately-owned non-commercial small passenger cars registered in Shanghai, and purchase new all-electric passenger cars from automobile sales agencies registered with Shanghai's market supervision and administration departments, with the registered use nature being non-operational, will be given a one-off car purchase subsidy of 10,000 yuan.

ID.4 X; photo credit: SAIC Volkswagen

The government’s latest move indicates that the subsidy policy has been extended for six months. According to the previous policy, the effectiveness period of the stimulus measures ran from Jun. 1, 2022 to Dec. 31, 2022 (purchase date). 

The new policy also adjusts the deadline for new vehicle registration available for the cash handouts. Individual users who purchase new vehicles should complete the vehicle registration procedures in Shanghai before July 31, 2023, and obtain the "Motor Vehicle Registration Certificate" and "Motor Vehicle Driving License". The registration date is based on the date indicated on the "Motor Vehicle Driving License".

Previously, the deadline was set on Apr. 30, 2023.