Home TECH China to cut new energy vehicle subsidies by 30% in 2022

China to cut new energy vehicle subsidies by 30% in 2022

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December 31, 2021

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.

In a notice published on its website, the Ministry said the 2022 NEV subsidies policy will terminate on December 31, 2022, and NEV will not be subsidised afterwards.

(Reporting by Sophie Yu, Tony Munroe. Editing by Jane Merriman)