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