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PBC grants higher loan proportion for NEV

Biwen Wang From Gasgoo| November 09 , 2017

new energy vehicle loan China

Shanghai (Gasgoo)- News from PBC website on November 8th shows that Auto Loan Management Regulation has been revised by PBC and CBRC to implement policy on adjusting economic structure and release consumption potential. Highest loan proportion on personal-use traditional fuel-oiled vehicles, commercial traditional fuel-oiled vehicles, personal-use NEV, commercial NEV and second-hand vehicles are 80%, 70%, 85%, 75% and 70% respectively. The regulation will take effect from January 1st, 2018.

All financial institutions may refer to Recommended NEV Models List for Implementation and Application released by MIIT to determine NEV model for loan offering, in the principle of free will, prudence and controllable risks.

It’s learned that the Recommended NEV Models list for Implementation and Application released by MIIT on November 1st includes 159 models from 85 companies, in which new energy vehicles account for 49%. A total of 904 specialized models are included in the list by November 1st.

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