Shanghai Offers Up to ¥15,000 in EV Trade-in Subsidies

Shanghai has recently introduced a subsidy policy for automobile trade-ins and upgrades. According to a joint notice issued by the Shanghai Municipal Development and Reform Commission and the Municipal Finance Bureau, individual consumers who transfer their registered passenger vehicles and purchase either a new-energy vehicle listed in the "Catalogue of New-Energy Vehicle Models Eligible for Exemption from Vehicle Purchase Tax" or a fuel-powered vehicle with an engine displacement of 2.0 liters or below will be eligible for subsidies. Specifically, buyers of new-energy passenger vehicles will receive a subsidy equivalent to 8% of the vehicle price, capped at RMB 15,000; purchasers of fuel-powered passenger vehicles with 2.0-liter engines or smaller will receive a subsidy of 6% of the vehicle price, capped at RMB 13,000. This policy is a key measure implemented by Shanghai to support the national initiative on large-scale equipment upgrades and consumer goods trade-ins scheduled for 2026.