China cut new energy vehicle subsidies by up to 20% in 2021

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China will cut its subsidies on new energy vehicles (NEVs) by up to 20 per cent in 2021, while seeking to cut pollution and cultivate home-grown auto-sector champions.

For new energy vehicles used for public purposes, such as city buses, road passenger transport, cabs, sanitation vehicles, urban logistics and distribution vehicles, postal and express delivery, civil aviation, and airports, the subsidy will be but by 10 per cent on the basis of 2020 level, according to a circular jointly released by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of . . .

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