Company: LI
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001410578-25-000678
Chunk: 142

Company: Li Auto Inc.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 4
Chunk 142
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 2022. Pursuant to this circular, the national subsidies for NEVs will be further reduced in 30% increments in 2022 compared with that of 2021. The circular also clarifies that the subsidy policy will not be implemented after December 31, 2022, and NEV purchasers will not be eligible for the subsidies if the NEVs they purchase are licensed after December 31, 2022.

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On April 24, 2024, the Ministry of Commerce and six other departments issued the Detailed Implementation Rules for Subsidies on Automobile Replacement, which stipulates that from April 24, 2024 to December 31, 2024, individual consumers who scrap gasoline-powered passenger vehicles meeting or below the National III emission standards or NEVs registered before April 30, 2018, and purchase NEVs included in the Catalog of New Energy Vehicle Models Exempt from Vehicle Purchase Tax published by the MIIT, are entitled to a subsidy of RMB10,000. Pursuant to the Notice on Further Improving the Implementation of the Automobile Replacement issued by the Ministry of Commerce and six other departments on August 15, 2024, the aforementioned subsidy amount was increased to RMB20,000. In addition, according to the Notice on the Implementation of Large-scale Equipment Renewal and Consumer Goods Replacement in 2025 issued by the NDRC and the Ministry of Finance on January 5, 2025, the aforementioned subsidy policy has been extended through 2025. Under this notice, individual consumers who scrap (i) gasoline-powered passenger vehicles registered before June 30, 2012, (ii) diesel-powered or other fuel passenger vehicles registered before June 30, 2014, or (iii) NEVs registered before December 31, 2018, and purchase NEVs included in the Catalog of New Energy Vehicle Models Exempt from Vehicle Purchase Tax, are eligible for a subsidy of RMB 20,000 per vehicle
Exemption of Vehicle Purchase Tax
On December 26, 2017, the Ministry of Finance, the State Taxation Administration, the MIIT, and the Ministry of Science and Technology jointly issued the Announcement on Exemption of Vehicle Purchase Tax for New Energy Vehicle, pursuant to which, from January 1, 2018 to December 31, 2020, the vehicle purchase tax applicable to ICE vehicles is not imposed on purchases of qualified NEVs listed in the Catalog of New Energy Vehicle Models Exempt from Vehicle Purchase Tax issued