(NEV sales China 2017-2020 and YoY growth rate of NEV sales China; Copyright: MIIT)
During the Executive Meeting of the State Council on March 31, 2020, the Chinese government decided to extend current purchasing subsidies and NEV purchase tax exemptions in order to stimulate vehicle purchases in China. This comes at a time when the Chinese (and international) automotive industry – and the NEV industry in particular – is under immense pressure due to a downturn in production and sales during the COVID-19 pandemic.
The full article on the recent policy changes can be found here
Author: Xia Yun