Suzhou unveils policies to support intelligent IoV industry

On Oct 14, the sixth Global Intelligent Driving Conference and Suzhou Intelligent Connected Vehicle (ICV) "Vehicle-Road-Cloud Integration" Pilot Promotion Conference was held in Xiangcheng district, where new policies were introduced to bolster the city’s intelligent Internet of Vehicles (IoV) industry.

Innovation Support:

Leading enterprises and research institutes can receive a subsidy equal to 10 percent of their research and development investment for three years, up to 30 million yuan ($4.21 million). National key laboratories in the IoV sector are eligible for up to 200 million yuan, while provincial labs and engineering-technology joint labs can receive up to 20 million yuan. Additionally, key projects aiming for technological breakthroughs can receive up to 10 million yuan in support.

Industry expansion:

Suzhou offers up to 10 million yuan in subsidies for initiatives that enhance the industrial chain or involve merging and reorganization. National "single-product champion enterprises" and "little giant" enterprises can receive awards of up to 3 million yuan and 1 million yuan, respectively. The city also provides a 2-percent interest subsidy on loans for manufacturing equipment purchases and upgrades.

Basic Element Assurance:

Newly established public technology service platforms in the IoV sector can receive up to 20 million yuan in support, equalling 20 percent of the total investment. "Gusu Leading Talent" can benefit from project funding and housing subsidies of up to 2 million yuan each. Furthermore, a 5-billion-yuan special fund has been set up to support startup projects.

Industry Ecosystem:

Suzhou supports cross-regional road test mutual recognition for ICVs, allowing simplified procedures for vehicles tested or applied elsewhere in China to operate in Suzhou. The city plans to identify key IoV application scenarios, offering subsidies of up to 1 million yuan, covering 20 percent of total project investment.