Never a better time to purchase a new energy vehicle with rebates and incentives on parking, charging and insurance

June 9, 2021June 9, 2021 Jake Canning 130 Views MP articles

A new notice has been issued to promote new energy vehicle consumption in Hainan. Consumers considering buying a new energy vehicle in Hainan province may be eligible for a 6,000-10,000 yuan rebate upon purchase depending on the vehicle.

The Hainan Provincial Comprehensive Incentive Fund focuses on enticements for buying new energy vehicles including parking, charging and insurance to reduce the useage costs.

Funding is available for vehicle owners, including individual users and business use owners who purchase new energy vehicles from vehicle sales enterprises in Hainan and register with the traffic management department of the Hainan Public Security Bureau.

The following conditions apply

(1) New energy vehicles include pure electric vehicles, plug-in hybrid electric vehicles (including extended range) and fuel cell vehicles.

(2) The vehicle must be registered for the first time and registered to obtain a special license plate for new energy vehicles.

(3) Vehicles need to be purchased between January 1, 2021 and December 31, 2022. The initial vehicle registration needs to be completed before January 15, 2022.

(4) If business owners apply for incentives for new vehicles, the ownership cannot be transferred within two years from the initial registration date of the vehicles.

According to the purchase price of new energy vehicles, comprehensive incentives will be given for charging, parking, traffic, insurance and other usage links.

Among them, each car with a purchase price below 100,000 yuan will be rewarded 6,000 yuan, cars with a purchase price between 100,000 yuan and 200,000 yuan will be rewarded 8,000 yuan, and each car with the purchase price above 200,000 yuan will be rewarded 10,000 yuan.

The purchase price shall be subject to the invoice amount of motor vehicle sale.

Vehicle purchase rewards will be sorted according to successful acceptance of the application materials which should be submitted through the mobile phone APP “海南充电桩”, on a first-come-first-served basis.

Application time is from June 15, 2021 to January 15, 2022. Failure to declare after the deadline will be deemed as giving up the award qualification.

Declaration method and materials required

1. For individual users: download the mobile APP “海南充电桩”, fill in the relevant information as required, and upload relevant materials such as ID card, driving license, unified sales invoice of motor vehicle and bank account information.

2. Business users: download the mobile APP “海南充电桩”, fill in the relevant information as required, and upload business license, driving license, unified invoice of motor vehicle sales, bank account information, Letter of Commitment on Not Transferring Ownership of Vehicles declared by Non-individual Users within Two Years from the Initial Registration Date and other relevant materials.

For motor vehicle owners who declare before July 31, 2021 and meet the incentive conditions, Hainan Provincial Department of Industry and Information Technology will transfer the incentive fund to the bank account of the motor vehicle owners before the end of October 2021.

For motor vehicle owners who declare from August 1, 2021 to January 15, 2022 and meet the award conditions, funds will be transfered to the bank account of the motor vehicle owners before the end of March 2022.

The notice requires that automobile sales enterprises should distinguish between sales incentives and government financial incentives, and it is strictly prohibited for automobile sales enterprises to issue sales invoices after deducting government financial incentives.

The applicant shall be responsible for the authenticity of the declaration materials submitted. If the applicant fraudulently obtains financial reward funds by providing false information, the reward qualification of the motor vehicle owner shall be cancelled, the reward funds shall be recovered and the liability shall be investigated according to law.

The applicant must be the owner of the motor vehicle and each new energy vehicle that meets the reward conditions can apply for a comprehensive reward only once.

New energy vehicles purchased by administrative institutions and social organizations with financial funds will not be included in the range of rewards.

For foreigners to purchase, there is no specific rules and policy in details, everyone can purchase it as long as it meets the above terms.

Contact 0898- 65342974 (Department of Industry and Information Technology of Hainan Province) for more information.