Shandong: EV Heavy Truck Subsidy Up to ¥140k(Sep 11)

Maximum Subsidy of 140,000 Yuan! Shandong Lowers Purchase Threshold for Electric Heavy Trucks, with Scrappage and Purchase Subsidies Stackable

On September 10, the Information Office of the People's Government of Shandong Province held a press conference on "Shandong's Achievements in Promoting Electric Heavy Trucks and Policy Framework Construction." Wang Lei, Chief Engineer of the Shandong Provincial Department of Transportation, introduced the province's relevant policy measures to reduce the comprehensive operating cost of electric heavy trucks.

Wang Lei stated that Shandong has adopted a problem-oriented, precisely targeted approach, focusing on vehicle purchase, financial support, insurance protection, and operational charging infrastructure, delivering a "combined punch" to reduce the comprehensive operating cost of electric heavy trucks. The goal is to enable enterprises and drivers to clearly calculate costs, see tangible benefits, and use the vehicles with confidence.

Lowering the Purchase Threshold to Reduce Upfront Investment Pressure

Regarding scrappage and replacement, subsidy funds are arranged through ultra-long-term special government bonds. Vehicles scrapping China-IV diesel trucks ahead of schedule receive up to 45,000 yuan per unit in scrappage subsidies. New purchases of new energy trucks receive up to 95,000 yuan per unit in purchase subsidies. Scrappage and replacement subsidies can be stacked, reaching a maximum of 140,000 yuan, with priority given to upgrades to electric heavy trucks. Subsidy funds are disbursed directly by municipal governments, effectively reducing upgrade costs.

For vehicle purchase loans, the Shandong provincial finance department has allocated 10 million yuan in special funds to provide a 1 percentage point annual interest subsidy on qualifying electric heavy truck purchase loans for one year. The subsidy is applied for online and disbursed monthly, with funds going directly to vehicle purchasers, effectively reducing financing costs and alleviating upfront investment pressure.

Additionally, electric heavy truck manufacturers have launched promotional campaigns. For example, Sinotruk (China National Heavy Duty Truck Group) offers a promotion of complimentary compulsory traffic insurance with the purchase of an electric heavy truck, gifting approximately 8,000 yuan in insurance per vehicle over two years, further reducing initial acquisition costs.

Solving Insurance Challenges to Reduce Coverage Costs

The Shandong provincial finance department has established an excess-of-loss risk compensation fund to effectively underwrite insurance companies' underwriting losses, fundamentally improving insurers' willingness to underwrite policies. Simultaneously, differentiated autonomous pricing coefficients are being implemented, no-claim discount coefficients are being reduced, and commercial insurance premium subsidies for newly purchased electric heavy trucks are being strengthened.

Reducing Operating Costs to Improve Whole-Life Economic Benefits

In terms of charging and battery-swapping infrastructure, the provincial finance department has allocated 10.8 million yuan in special funds to provide interest subsidies for demonstration station project loans included in the provincial construction plan that have not received central or provincial fiscal support, accelerating the deployment of charging and swapping infrastructure.

For charging and swapping service fees, discounts of a certain proportion are being applied to heavy truck highway charging and swapping service fees based on market rates. Operators are adopting an "electricity fee + service fee discount" model, with highway charging station service fees reduced by 50% after discounts, effectively reducing daily charging expenditures during vehicle operation.

Wang Lei stated that through the combined measures of "scrappage subsidy + purchase subsidy + loan interest subsidy + insurance compensation + compulsory insurance gift + service fee discount," the whole-life economics of electric heavy trucks have significantly improved, with market acceptance and user recognition continuously increasing.

According to data released at the conference, from January to August 2026, Shandong Province added 13,600 electric heavy trucks, a year-on-year increase of 212%, with a penetration rate of 33%, up 20 percentage points year-on-year. In August alone, 3,245 electric heavy trucks were added, with a single-month penetration rate of 57.3%. The province has completed construction of its first batch of 88 high-power charging demonstration stations.

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