China’s car trade-in scheme could increase total EV sales to over ten million units this year. This is according to Bloomberg New Energy Finance (BNEF) after Beijing announced plans in July to double the subsidies for the trade-in program announced in April. The original estimate for the trade-in scheme was 11.2 billion yuan (around 1.4 billion euros). This alone would have been enough to replace up to 1.1 million older gasoline cars with electric cars, writes BNEF analyst Siyi Mi in a new report.