Shanghai (ZXZC)- Sichuan provincial government plans to grant incentives to automakers who produce and sell NEVs (new energy vehicles), and developers of NEV and ICV (intelligent-connected vehicle) technologies, according to a document recently issued by Sichuan Provincial Economic and Information Department.

Ruijie D30EG, photo source: Nanjun Auto

The document defines the scope of the projects eligible for the awards. The governmental subsidies will be given to local companies who develop new energy passenger vehicle, bus, truck models, and FCV (fuel cell vehicle) models. The models subsidized should be included into the MIIT’s Catalogue of Recommended Models for NEV Popularization and Application after Sept. 30, 2020, and then reach sales of 1,000 units (for passenger vehicles), 200 (for buses), 500 (for trucks), and 50 (for FCVs) within one year.

To encourage automakers to improve product quality and boost sales, the cash handouts will be offered to the firms who record 2021’s full-year sales of 10,000 new energy passenger vehicles, 5,000 new energy buses, or 3,000 new energy buses, and achieve 10% plus year-on-year sales growth.

In addition, the government will subsidize the influential exhibitions, product competitions, and industrial conferences related to NEV and ICV industries held in 2021.

The money will also be handed out to support the building of country-leading public platforms that involve a great amount of investment and focus on ICV R&D, innovation, technology validation and testing grounds, and the projects under which participants make major breakthroughs in core technologies relevant to NEV and ICV industries.

What's more, those power battery and fuel cell providers, who hit annual supply volume of 5GWh and 10MW respectively in 2021, will receive the cash awards as well.