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Official said China won’t slash NEV subsidies in 2020, automakers surge

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China will not make significant cuts to subsidies for new energy vehicles (NEV) this year, said Miao Wei, China's minister for industry and information technology (MIIT), according to state media.

Beijing has been slowly scaling back a 5-year subsidy scheme for NEVs, which began in 2016, saying it plans to phase out subsidies after 2020, amid concerns that some automakers have become overly reliant on subsidies.

“Please rest assured. There won't . . .

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