China to abolish subsidies for electric and hybrid vehicles later this year, as announced by the authorities who are confident in the solidity of sales in this sector. The Ministry of Finance announced in a statement published on Friday that These purchase aids will be reduced by 30% from the beginning of the year and will disappear completely by the end of 2022. “Taking into account the development of the new energy vehicle industry, the sales trend and the smooth transition of manufacturers, the subsidies … will end on December 31, 2022,” the ministry said. “Vehicles registered after December 31,...