From now until March 31, 2023, Sanya is offering additional subsidies for battery swap-enabled models.
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China's current national policy for the new energy vehicle (NEV) industry provides additional support for battery swap-enabled models. In addition, some local governments are also providing extra support.
From now until March 31, 2023, Sanya, in southern China's Hainan province, is offering an additional subsidy of up to 10,000 yuan ($1,380) per vehicle for battery swap-supported models, according to a report in the Hainan Daily today.
The subsidy is available to actual users of such vehicles newly purchased in Hainan and registered in Sanya between September 17, 2022, and March 31, 2023, according to the report.
These vehicles will need to obtain a special local NEV plate and access to the NEV regulatory platform in Hainan by April 30, 2023.
They will also need to sign a service agreement with a battery swap service provider in Sanya.
Depending on the purchase price, vehicle users can receive different amounts of subsidies, up to RMB 10,000 for a single vehicle, according to the report.
It is worth noting that the subsidy does not affect other subsidies offered in Hainan.
China's national support policies for the NEV industry include exemptions from purchase taxes and subsidies for vehicle purchases. Both policies are set to expire at the end of the year, although the former has been renewed until the end of 2023 and the latter has not.
Under the current national subsidy policy, models priced above RMB 300,000 are not eligible for subsidies, with the exception of models that support battery swap.
The main player in this area is currently Nio, with all its models supporting battery swap.
At the end of last month, SAIC Group's Rising Auto launched its first model after rebranding, the R7, which also supports battery swap.
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