For consumers who purchase all NIO models except the ET5, they will be able to enjoy the same subsidy amount as in 2022, as long as they lock in their configuration by December 31.
(Image credit: CnEVPost)
NIO today released its latest subsidy plan for vehicle purchases, as China's national subsidies for consumers to purchase new energy vehicles (NEVs) are set to expire at the end of the year.
The company's latest program offers consumers the same subsidy amounts for purchasing its models as it released earlier in the year, but clarifies how the program will transition to 2023 to clear up any confusion for potential consumers.
As background, China's current support policies for the NEV industry include national purchase subsidies as well as exemptions from purchase taxes, both of which are set to expire at the end of the year, but the latter has been extended to the end of 2023.
To be eligible for purchase subsidies, NEV models need to be priced below RMB 300,000 ($41,250) before subsidies, unless they support battery swap like NIO models, all of which currently cost more than RMB 300,000 before subsidies.
China's NEV purchase subsidy policy will end on December 31, 2022, and vehicles acquiring license plates after that date will not be eligible for the subsidy, NIO reminded in an article posted today on its mobile app.
For consumers who purchase NIO vehicles, they will have to wait for a period of time after locking in their orders before their cars can be delivered. Therefore, in order to give consumers no doubts when purchasing a vehicle, the company is offering the latest purchase options, according to the article.
For consumers who purchase ES8, ES6, EC6, ET7 and ES7, they can enjoy the same subsidy amount as in 2022, as long as they finish paying the deposit and lock the configuration for production schedules before December 31, 2022, NIO said.
For individual consumers, the subsidy amount is RMB 11,340 for vehicles with 75-kWh packs and RMB 12,600 for vehicles with 100-kWh packs.
For corporate customers, the subsidy amounts are RMB 7,938 and RMB 8,820 respectively, which is 70 percent of the amount available to individual consumers.
The subsidy amounts are consistent with the program released by NIO on January 1.
NIO currently sells six models in China, including three SUVs based on the NT 1.0 platform -- ES8, ES6 and EC6 -- and three models based on the NT 2.0 platform -- ES7, ET7 and ET5.
NIO's latest subsidy program means that consumers who purchase all NIO models except the ET5 and lock in their orders by December 31 will still be able to enjoy this year's subsidy amount, even if deliveries are in 2023.
For the ET5, the latest NIO article says consumers need to refer to the subsidy program previously released in September.
According to the September 9 plan, consumers who reserve the NIO ET5 before the reservation channel closes at 0:00 on September 9 will receive the same subsidy as this year, as long as they get their deliveries on and before June 30, 2023.
Starting at 0:00 on September 9, the purchase subsidy for consumers who have not previously reserved will be based on the policy in place at the time they take delivery, NIO previously said.
If ET5 consumers are eligible for the subsidy, then the subsidy amount is the same as other models.
In addition to NIO, Huawei-backed AITO also previously clarified its vehicle purchase subsidy policy for the following months.
For those who finish paying the deposit by November 20, AITO will bear the extra cost and will let them continue to enjoy this year's subsidy amount if they are unable to complete the license plate acquisition by December 31 due to AITO, according to an announcement on October 16.