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

In the upcoming year, China has decided to cut its subsidies on new energy vehicles by 30%.

BEIJING:

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.