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China is making sure its electric vehicle ambitions stay

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Glider549   Monday, 05/04/20 04:08:24 AM
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China is making sure its electric vehicle ambitions stay on track as it recovers from the devastating economic impacts of COVID-19.

In the last few weeks, NEV subsidies and tax break policies set to expire this year were extended by two years to 2022, while battery charging infrastructure got a 2.7B yuan injection.

That would reportedly allow for a ten-fold increase in scale versus last year, with production of new energy vehicles falling 60.2% Y/Y to 105K during Q1.

Related: NIO, TSLA, OTCPK:BYDDY, OTCPK:GELYY



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