In a statement published Friday, the Ministry of Finance said purchase subsidies would be reduced by 30 percent from the beginning of 2022 before being scrapped completely by the end of the year.
The cars are set to represent 18 percent of all vehicle sales in 2022, the China Association of Automobile Manufacturers estimated last week. In 2019, they accounted for only five percent.
They said the same when they subsidized propane fueled cars.
They already ended subsidies for fossil fuel cars, but US still has them
“saying the strength of sales in the sector meant state support was no longer needed.” No batteries or rare earth for export.
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