China will remove subsidies for electric and hybrid vehicles at the end of the year, authorities said, reassured by firm sales in the sector. In a statement released on Friday, the Ministry of Finance announced that these purchase subsidies would be reduced by 30% from the start of the year, before disappearing entirely at the end of 2022. “In view of 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, 2022 will not be subsidized“....