China May Extend EV Subsidies Due To Falling Car Sales | Carscoops carscoops
notes that more than 100 billion yuan in subsidies have been provided to buyers of New Energy Vehicles in China since 2009.
Data from the China Association of Automotive Manufacturers reveals that sales of New Energy Vehicles rose by 45 per cent year-on-year in April to 299,000 but that the rate of growth was slower in March due to many Chinese cities being in COVID-19 lockdowns through April. Overall sales across China last month were down almost 48 per cent from April 2021, promoting CAAM to urge the government to consider providing additional help for the industry.
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