China to abolish subsidies for electric and hybrid vehicles later this year, as announced by the authorities who are confident in the solidity of sales in this sector.
The Ministry of Finance announced in a statement published on Friday that These purchase aids will be reduced by 30% from the beginning of the year and will disappear completely by the end of 2022.
“Taking into account the development of the new energy vehicle industry, the sales trend and the smooth transition of manufacturers, the subsidies … will end on December 31, 2022,” the ministry said.
“Vehicles registered after December 31, 2022 will not be subsidized,” he added.
Sales of vehicles of this type have exploded in China, with year-on-year increases of more than 100% in recent months, and should represent 18% of total sales in 2022, as estimated last week by the China Association of Automobile Manufacturers (CAAM).
In 2019, they represented only 5% of the total.
China, the most polluting country in the world, aspires to have a car fleet made up mainly of clean vehicles by 2035.
AFP
