In response to the growing demand for electric vehicles, China has announced a new incentive policy aimed at boosting the adoption of these environmentally friendly cars. As of today, the Ministry of Commerce has reported that the total number of subsidy requests for electric vehicles has exceeded 10 million units.
According to data released by the Ministry of Commerce, as of May 11, 2025, the demand for electric vehicle subsidies has reached 3.225 million units. This includes 1.035 million units allocated for new energy vehicles and 2.19 million units for replacement vehicles. Since the implementation of the new electric vehicle subsidy policy in 2024, the total number of subsidy requests has surpassed 10 million units.
The subsidy policy for electric vehicles has effectively stimulated the market, leading to a continuous increase in sales of these vehicles. From January to April, the total sales of passenger cars in the country reached 6.872 million units, representing a 7.9% increase compared to the previous year. In April alone, the sales of electric vehicles witnessed a 1.9% rise.
New energy vehicles are gaining popularity rapidly. This year, electric vehicles account for 53% of the total vehicle sales. From January to April, the total sales of new energy vehicles reached 3.324 million units, marking a significant 35.7% increase compared to the same period last year. The market share of electric vehicles has surged to 48.4%, an increase of 0.8 percentage points from 2024.
The utilization rate of renewable energy resources is steadily improving. This year, the sales of electric vehicles have seen a substantial increase. From January to April, the sales of electric vehicles reached 2.767 million units, reflecting a remarkable 65% increase year-over-year.
In summary, the introduction of new policies and incentives has significantly boosted the electric vehicle market in China, with increasing sales figures showcasing the growing acceptance of this sustainable mode of transportation.
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