Electric vehicles have reached a significant milestone, with the total subsidy requests exceeding 10 million units as of May 12, 2025. This information was released by the Ministry of Industry and Information Technology, indicating that since the implementation of the new subsidy policy for electric vehicles in 2024, requests for subsidies have surpassed this threshold.
According to the data, as of May 11, 2025, the total subsidy requests for electric vehicles reached 3.225 million units. This includes 1.035 million units for vehicle purchases and 2.19 million units for replacement vehicles. The new subsidy policy aims to promote long-term development in electric vehicle usage, enhance green transformation, and encourage resource recycling.
The continued increase in electric vehicle subsidies is noteworthy. From January to April, the number of electric vehicles sold reached 6.918 million units, marking a 9% increase year-on-year. In April alone, the sales of electric vehicles showed a 1.9% increase compared to the previous month.
As we move toward 2025, the market share of new energy vehicles is expected to reach 53%. From January to April, the cumulative sales of new energy vehicles amounted to 3.342 million units, reflecting a 37% increase year-on-year, with the market penetration rate reaching 48.4%, a slight increase of 0.8 percentage points compared to 2024.
The resource recycling utilization level has also seen significant improvement. During the same period, the recycling of electric vehicles totaled 2.767 million units, indicating a remarkable 65% increase year-on-year.
These trends reflect the ongoing commitment to sustainable transport solutions and the increasing acceptance of electric vehicles in the market.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/chinas-electric-vehicle-subsidy-requests-surpass-10-million-units-as-new-policies-take-effect/
