The Ministry of Transport and the Ministry of Finance jointly issued Detailed Rules for the Implementation of Subsidies on the Renewal of New Energy Urban Buses and Power Batteries

To implement the decision-making arrangements of the CPC Central Committee and the State Council, the Ministry of Transport and the Ministry of Finance jointly issued the Detailed Rules for the Implementation of Subsidies on the Renewal of New Energy Urban Buses and Power Batteries (hereinafter referred to as the Detailed Rules) according to the Notice by Thirteen Departments Including the Ministry of Transport Issued the Plan of Action to Launch a Large-scale Renewal of Transportation Equipment recently. It clarifies subsidy policies for the renewal of new energy urban buses and power batteries.

The Detailed Rules clarifies the scope and standards of subsidies. Subsidies are provided for renewal of urban buses that are 8 years old or above, namely those registered before December 31, 2016 (including that date), and the replacement of power batteries for new energy urban buses. An average subsidy of 60,000 yuan will be provided per vehicle. Specifically, for the renewal of new energy urban buses, an average subsidy of 80,000 yuan per vehicle will be granted; for the replacement of power batteries, a subsidy of 42,000 yuan per vehicle will be provided.

The Detailed Rules clarifies the application procedure for subsidies. After completing the renewal of new energy urban buses or the replacement of power batteries, urban bus companies intending to apply for subsidy funds should submit applications to the local transport authorities by January 20, 2025. Relevant supporting materials should be obtained between July 1, 2024 and December 31, 2024.

The Detailed Rules clarifies the requirements for subsidy management. Based on the number of new energy urban buses in each province at the end of 2016 and other relevant factors, the Ministry of Finance will pre-allocate 60% of the subsidy funds to each province to support the initiation of related tasks, with additional funds being allocated as needed. By February 28, 2025, provincial transport authorities should report the local status of the renewal of new energy urban bus and power batteries through the Urban and Rural Road Passenger Transport Fuel Consumption Information Reporting and Subsidy Management System (yb.motcats.com.cn), export the report forms, and submit them with an official seal to the Ministry of Transport.

The Detailed Rules clarifies the requirements for performance management and supervision. Provincial transport authorities should manage performance targets, monitor performance, and conduct annual self-assessments in accordance with the requirements. Provincial transport and financial authorities may formulate specific implementation rules for subsidies on the renewal of new energy urban buses and power batteries based on the Detailed Rules and in light of local actual conditions to clarify specific subsidy standards and specific performance targets for each city within their jurisdiction.

Next, the Ministry of Transport, in collaboration with the Ministry of Finance, will guide local authorities in effectively implementing the subsidy policy, enhance publicity and interpretation efforts, and steadily advance the replacement of urban buses with electric vehicles.