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