China reveals past EV subsidies, from Tesla to state giants – where did the money go?
In the seven years from 2016 to 2022, subsidies steadily moved from state enterprises to leading carmakers and start-ups
China has released a breakdown of the subsidy settlements for new-energy vehicle (NEV) companies from 2016 to 2020, along with the allocation plan for 2021 to 2022, and the data helps illustrate how the industry landscape shifted during those years.
According to data released by the Ministry of Industry and Information Technology (MIIT) earlier this month, over the seven years from 2016 to 2022, subsidies gradually moved from traditional state-owned enterprises to leading carmakers and emerging start-ups.
A total of 1.65 billion yuan (US$230 million) in subsidies was disbursed between 2016 and 2020. The Beijing Electric Vehicle Co. emerged as the biggest winner, receiving about 556 million yuan, or a third of the total. Meanwhile, BYD received only 15.74 million yuan, and Tesla, which first applied for subsidies in 2020, received 3.59 million yuan – each sum accounted for less than 1 per cent of the total.
The MIIT explained that several carmakers received less than their requested amounts due to non-compliant documentation or failure to upload required vehicle data. The subsidy plans for 2023-2024 have yet to be publicised.