Reuters
China to cut new energy vehicle subsidies by 30% in 2022
BEIJING (Reuters) -China will cut its subsidies on new energy vehicles (NEV), such as electric cars, by 30% next year, the Finance Ministry said on Friday. The Ministry said on its website the 2022 NEV subsidies policy will terminate on December 31, 2022, and NEV will not be subsidised afterwards. The ministry had said in April 2020 that subsidies for NEV would be cut from 2020 to 2022 by 10%, 20% and 30% respectively.