BEIJING, Jan. 23 (Xinhua) -- China's Ministry of Commerce and four other departments on Thursday announced new policies for the electric bicycle trade-in program for 2025.
Individuals who trade in their old electric bicycles and purchase eligible new models will qualify for subsidies, according to the ministry.
During the trade-in process, old electric bicycles will be recycled at the local scrap market price and dismantled. The ministry said this move aims to phase out obsolete electric bicycles that pose safety risks.
Given the higher safety performance and broader applications of lead-acid battery electric bicycles, China will increase subsidies for consumers who trade in their old lithium battery bicycles and purchase new lead-acid battery models, according to the ministry.
Local governments across the country are encouraged to accelerate the approval process for consumers to receive subsidies, or apply subsidies directly during the transaction.
In 2024, the trade-in program saw over 1.38 million electric bicycles exchanged, with subsidy funds exceeding 600 million yuan (about 83.67 million U.S. dollars), driving sales of around 3.74 billion yuan, according to the ministry. ■