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Subsidies for EVs set to expire

China is cutting subsidies for vehicles with alternative drives next year. The government had already announced in April 2020 that it would gradually cut state subsidies, first by 10 percent, then 20 percent, and finally by 30 percent in 2022. The subsidy will now end completely on December 31, 2022, the Finance Ministry announced on its website. Vehicles registered after that date will no longer receive a subsidy. The goal is a “gentle subsidy decline” with a transition to other effective instruments to promote cars with alternative drives.

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