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China planning to scrap subsidies for electric vehicles

January 3, 2022
Source: taipeitimes.com taipeitimes.com
News Snapshot:
China is to end subsidies for electric and hybrid vehicles at the end of the year, authorities have announced, saying the strength of sales in the sector meant state support was no longer needed. Purchase subsidies would be reduced by 30 percent from the beginning of this year before being scrapped completely by the end of the year, the Chinese Ministry of Finance said in a statement on Friday. “Given the growth of the industry for vehicles with new energy, the sales trends and the smooth transition of manufacturers, the subsidies ... will end on December 31,” the ministry said....
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