China's growth in demand for EVs likely to offset 30% cut to buyer subsidies

By Carrie Shi
Published: Wednesday, 05 January 2022

China’s growing appetite for electric vehicles (EVs) is likely to offset any negative impact arising from the 30% cut to buyer subsidies announced by the government on the last day of 2021, sources told Fastmarkets on Tuesday January 4.

China's Finance Ministry - along with the Ministry of Industry & Information Technology, Ministry of Science & Technology and the National Development & Reform Commission - announced the country's EV subsidy policy for 2022 on December 31, 2021, with a 30% year-on-year reduction.

Under the new policy for 2022, the...

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