China cuts electric car bonus by a third

The Chinese state’s phasing out of subsidies for electric cars continues. In a year, they will disappear completely.

China has the world’s largest electric car fleet. A year ago, it amounted to just under 4 million electric cars plus just under a million plug-in hybrids, according to the IEA Global EV Outlook 2021. During the first half of 2021, China remained the country with the highest number of rechargeable cars sold (1.1 million), although Europe was not far behind, according to EV-volumes.

The Chinese government has long had extensive support for buyers of electrified passenger cars (the cars covered are referred to in the country as New Energy Vehicles, NEV). But soon those days are over.

The support is gone in a year

At the turn of the year, the support was reduced by 30 percent. And in a year it’s gone completely, reports the news agency Reuters with reference to information from the Chinese Ministry of Finance.

The Ministry of Finance does not specify what the support is in actual money, however Electrive notes that it should be 9,100 yuan, equivalent to 13,000 kronor, for a car with a range of between 300 and 400 kilometers.

That the support is on its way away has been known for a long time. It was supposed to disappear as early as 2020, but was extended when the pandemic struck and car sales plummeted.

Source: Nyteknik – Senaste nytt by

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