In recent years, China has heavily promoted NEVs as part of its efforts to reduce air pollution and has seen an increase in sales.
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Country to cut NEV subsidies by 30% in 2022
China’s state planner said on Friday restrictions on new energy vehicle (NEV) purchases would be phased out in various parts of the country as part of a “vigorous” campaign to promote NEVs and “green consumption.” “.
The construction of supporting infrastructure for charging and replacing batteries, storing energy and refueling hydrogen fuel cells will also be enhanced, the National Development and Reform Commission (NDRC) said in a document.
Last year, NEV sales jumped more than 1.5 times.
A number of major Chinese cities such as Beijing, Guangzhou and Tianjin impose license plate quotas to limit the number of new vehicles on the roads and traffic jams, which also apply to NEVs.
In recent years, China has heavily promoted NEVs as part of its efforts to reduce air pollution and has seen an increase in sales. Last year, NEV sales jumped more than 1.5 times.
The country will, however, reduce NEV subsidies by 30% in 2022 and phase them out altogether from next year, believing that the market has matured enough in terms of demand to grow without state assistance.
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