China slows NEV subsidy reductions; limited support for lithium, cobalt prices

By Carrie Shi
Published: Friday, 24 April 2020

China has announced a multi-year plan that will see a staggered reduction in subsidies for new energy vehicles (NEVs) through 2022.

China will cut its NEV subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country’s ministry of finance announced on Thursday April 23.

Compared with the 50% cut to subsidies in 2019, future reductions in principle will be done so at a slower rate...

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