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【Caixin Global】

Japan revises its new energy support policies; subsidies for overseas brands such as BYD are sharply reduced

Caixin Global reported on March 31 that the Japanese government adjusts purchase subsidies for new energy vehicles once every year. On March 27, Japan’s Ministry of Economy, Trade and Industry, through the “Next Generation Automobile Promotion Center” under its jurisdiction, released an updated version of the 《Clean Energy Vehicle Introduction and Promotion Subsidy (CEV Subsidy)》, setting different subsidy amounts for complete vehicle products. The list will take effect on April 1 and be updated again in March of the following year.

The maximum subsidy amount is 1.3 million yen (about RMB 56,200). All the benefited products are produced by Japanese domestic automakers, including the Toyota bz4X, the Honda e, the Lexus UX 300e and RZ300e, among others. The Tesla Model Y and Model 3 can receive a subsidy of 1.27 million yen and are also at a relatively high level. Chinese-made models such as BYD Atto3 and SEAL can only receive a subsidy of 150,000 yen, creating a stark gap versus Japanese brands. Other overseas brands overall are also in a disadvantaged position.