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