China Planning To End Local Subsidies For Electric Vehicles

China Planning To End Local Subsidies For Electric Vehicles

China will, allegedly, instruct local governments to stop giving out incentives for electric cars and other clean-energy vehicles, as it is looking into ways to discourage protectionism between the country’s different provinces. The Chinese Ministry of Finance wants to implement its plan as early as next year according to Bloomberg , which cites inside sources. China’s existing program entitles cars that can run at least 155 miles (250km) on a single charge to a $6,653 (44,000 yuan) incentive from the central government, while local authorities can provide no more than the 50 percent of the central subsidy. The problem […]