China cuts EV subsidy for 2021; market downplays impact on lithium, cobalt prices

By Carrie Shi
Published: Tuesday, 05 January 2021

China's finance ministry has reduced the subsidies for electric vehicles (EVs) for 2021 by 20%, a move most market participants say they had expected.

The Chinese government body announced the the new EV subsidy policy for 2021 on December 31, 2020, which included a 20% reduction year on year as planned.

Under the new policy for 2021, the subsidy for pure electric vehicles (PEVs) with a driving range of 300-400km will be lowered to...

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