Shenzhen Gives Residents Incentives To Buy EVs — Tesla Included
The city of Shenzhen in China has long been an electric vehicle leader. Its bus fleet went 100% electric in 2017, and its taxi fleet followed in 2018. Now, it is pushing electric vehicle sales (including Tesla sales) just in time for the end of Q2 2020. Residents can receive 20,000 yuan if they buy new fully electric vehicles. Plug-in-hybrids are also being subsidized, with 10,000 yuan per purchase. These incentives started in May and will last until December 21, 2020. All Tesla vehicles are eligible, Tesmanian noted.
Tesla Q2 China 🇨🇳 Sales Will Get Extra Boost By Shenzhen City Additional 20K RMB Incentives 📈🚘🚘🚘@Tesla @elonmusk #Tesla #TeslaChina https://t.co/H5LXogZq0H
— Eva Fo𝕏 🦊 Claudius Nero's Legion 𝕏 (@EvaFoxU) June 14, 2020
Who Can Apply?
Shenzhen is relaxing the application measures that were in place due to COVID-19. Citiznes can apply, but so can:
- Nonresidents with a valid residence permit.
- Chinese citizens living overseas.
- Hong Kong, Macao, and Taiwan residents.
- Foreigners with valid visas or residence permits.
They can directly apply for either the Shenzhen Hybrid Electric Vehicle Incremental Index or Pure Electric Car Incremental Index.
If a citizen of Shenzhen already owns an EV or plug-in hybrid and has it registered in their name, they can purchase another new one (either a new EV or a new plug-in hybrid) and still qualify for the incentives.
Parking
Another thing that Shenzhen wants to do is incentivize the parking of new energy vehicles. This will include free parking for the first hour of on-street parking throughout the city.
It will be exciting to see the Q2 sales numbers. The population of Shenzhen is 12.53 million. The new subsidies, on top of federal Chinese subsidies, should stimulate a large number of new electric vehicle sales.
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