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ElectricMinistry of Industry and Information Technology: Tesla Received $329 Million in Subsidies...

Ministry of Industry and Information Technology: Tesla Received $329 Million in Subsidies in China Last Year

Tesla received state subsidies for 101,082 vehicles sold in the country in 2020, for a combined total of 2.12 billion yuan ($329 million), according to data released Monday by China’s Ministry of Industry and Information Technology (MIIT).

The MIIT’s preliminary review of subsidy funding received by new energy vehicle companies between 2016-2020 shows that Tesla received no subsidies between 2016-2019. The reason for the lack of subsidies at that time was because the company only started deliveries of its first locally produced models, the Model 3, in early 2020.

According to the statement, the review involves 1,097,400 new energy vehicles sold in China from 2016 to 2020 wherein the total subsidized amount reached 32.946 billion yuan.

The statement disclosed the subsidy liquidation for the year of 2020 for the first time, a year in which Tesla ranked first in annual subsidies. MIIT reviewed 117,000 BYD vehicles in 2020 and the car maker received over 2.05 billion yuan in subsidies.

Tesla’s reviewed vehicle sales accounted for about 68% of Tesla’s sales in 2020, or around 148,000 vehicles. In contrast, BYD’s new energy vehicles that were sold at this time accounted for around 62% of its sales volume in 2020, or about 189,000 vehicles.

NIO, another EV company in the Mainland of China, received subsidies for the first time in 2018 and its total subsidy from 2018 to 2020 totalled around 585 million yuan. Li Auto received 3.23 million yuan in 2019 and 66.6 million yuan in 2020. According to data available between 2016 to 2020, BAIC Group, Dongfeng Motor, Chery, Geely Group, Zhengzhou Yutong Group, Great Wall Motor, SAIC, GAC Motor and Zhongtong Bus all received more than 1 billion yuan worth of subsidies for new their energy vehicles.

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