As of March 28, 2025, the Ministry of Commerce announced that applications for the “old-for-new” vehicle subsidy have exceeded 1.769 million submissions. This information was shared by Sheng Qiuping, the Vice Minister of Commerce, during the 2025 China Electric Vehicle Hundred People Forum held today.
Since the beginning of this year, the cumulative retail sales of new energy passenger vehicles in the country have surpassed 2.05 million, marking an approximate 34% increase compared to the same period last year.
This initiative aims to encourage consumers to upgrade to new energy vehicles, thereby fostering the growth of the automotive industry and contributing to environmental sustainability.
