NEV Subsidies

Neta's sales of 152,073 units in 2022 are the highest of China's major new car makers, but its flagship model starts at half the average sales price of Nio models.

Rumors have recently surfaced that China's subsidies for NEVs may be renewed, but the amount will be only 50 percent of what it was in 2022.

Orders with deposits paid by 24:00 on December 31 will continue to receive the same purchase subsidies as in 2022, Xpeng said.

Shenlan is currently offering only the Shenlan SL03, which has an electric version, an extended-range version and a version with a hydrogen fuel cell.

From now until March 31, 2023, Sanya is offering additional subsidies for battery swap-enabled models.

China's state subsidies for NEV consumers are set to expire at the end of this year.

Models using extended-range technology, which are treated the same as ICE vehicles in the new car market, have been included in Beijing's latest subsidy policy in a rare move.

According to Chinese policy, NEVs sold to corporate customers need to reach 20,000 kilometers of driving range within 2 years or they will not receive the purchase subsidy.

China is in talks with automakers to extend EV subsidies that were set to expire in 2022, aiming to maintain growth in a key market amid a broader economic slowdown, Reuters said.

Xpeng's models priced below RMB 300,000 are being offered with reduced subsidies.