Strong sales growth means state aid is no longer needed, say authorities
A charging station is seen at a Beijing showroom for Nio Chinese-made electric cars. (Reuters File Photo)
BEIJING: China will end subsidies for electric and hybrid cars at the end of the year, authorities have announced, saying the strength of sales in the sector meant state support was no longer needed.
In a statement published on Friday, the Ministry of Finance said purchase subsidies would be reduced by 30% from the beginning of 2022 before being scrapped completely by the end of the year.
“Given the growth of the industry for vehicles with new energy, the sales trends and the smooth transition of manufacturers, the subsidies … will end on Dec…
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