Jiading offers new incentives for automobile innovators

The Jiading District government announced new incentives for intelligent connected vehicles and the fuel cell industry on Wednesday.

Companies which take part in the commercialization of applications of intelligent connected vehicles can have up to 10 million yuan (US$1.6 million) in support per year, and those which refit vehicles with technologies in this field will be entitled to up to 3 million yuan in support.

Companies that test the technologies on streets can have 20 percent off from the fees charged for the tests, with a maximum deduction of 1 million yuan.

Those which take part in the construction of new infrastructure regarding such vehicles can enjoy up to 5 million yuan in subsidies, according to the district government.

For fuel cell innovators, each company now has access to up to 40 million yuan in government funds for industrialization of key parts of the cell.

Companies which construct hydrogen refueling stations can have 50 percent of the expense subsidized, up from the previous 30 percent.

Fuel cell system and vehicle manufacturers which purchase key parts of the products or related services form companies based in the suburban district can have up to 20 million yuan of the purchase cost covered by the Jiading government.

The new incentives will take effect from next year and last until the end of 2025.

The district hopes to draw more than 100 leading innovators in the cell fuel vehicle industry by the end of 2025. By the end of the same term, the output of the hydrogen and fuel cell automobile industry in the district, which is a leader in Shanghai in this sector, is expected to exceed 10 billion yuan.

So far, about 340 companies in the fields of electric, autonomous, connected and shared vehicles have invested in Jiading. Their output in the first 11 months this year was 111.7 billion yuan, according to the district government.