Shanghai Releases New Round of Car Subsidy Policy for FV and NEV

According to an announcement released by the Shanghai Municipal Commission of Commerce, a new policy for trading in old fuel vehicles for new ones, as well as a new energy vehicle replacement policy, has been introduced. It is stated that from January 1, 2024, to December 31, 2024, individual consumers who scrap or transfer (excluding change of registration) their non-commercial fuel passenger car with emission standards of National V or below, which is registered under their name in Shanghai, and purchase a new National VI B fuel passenger car from a car sales enterprise registered with the Shanghai Market Supervision Administration, for non-commercial use, can apply for a one-time subsidy of 2,800 yuan for the purchase of the car. From January 1, 2024, to December 31, 2024, individual consumers who scrap or transfer (excluding change of registration) a non-commercial passenger car registered under their name in Shanghai, and purchase a new pure electric passenger car from an automobile sales institution registered with the Shanghai Market Supervision Administration, for non-commercial use, can apply for a one-time subsidy of 10,000 yuan for the purchase of the car.