Extension of EV subsidy draws closer

China’s Ministry of Commerce joined other ministries on Thursday in holding out the prospect of extending tax breaks on the purchase of electric vehicles. A plan to return to full tax on EVs from next year could now be scrapped. The world’s largest car market has been hit hard in recent months by rigorous measures to curb the Covid pandemic in Shanghai and other parts of the country. Buyers of NEVs have received tax breaks since 2014, and an extension of the subsidy has been under discussion for several weeks (China.Table reported) rtr