China ready to lower new energy vehicle support| glObserver Global Economics


The government of the world’s major auto market announced it would move to lower the subsidies of new-energy vehicles in the country, even as deliveries have not met the official estimate.

Source: globserver.cn

The Chinese will curb the subsidies additional than before announced on new-energy vehicles, the country’s term for vehicles inclunding plug-in hybrids, battery and fuel cell electrics. According to a recent statement posted on the finance ministry’s website, the officials will curb the incentives on new-energy models by 40 % for the 2019 to 2020 period from the level mulled for 2016. The new figure is two times larger than the ministry envisioned back in December 2014.

See on Scoop.itglObserver Asia

Author: globserver

Director of Eyecom china

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