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China Tries Saving Nearly Non-Existent Electric Car Market

The Chinese government is trying to protect its ailing electric vehicle market by agreeing Thursday to extend subsidies to the industry.

China will subsidize electric vehicles sold in 25 cities, expanding from the current five cities, and adopt a unified national subsidy standard, The 21st Century Business Herald reported on Wednesday citing China Association of Automobile Manufacturers.

“The new subsidy policy for electric vehicles (EV), still under research, will be issued soon, possibly shortly after the two sessions of NPC and CPPCC,” Ye Shengji, deputy secretary general of China Association of Automobile Manufacturers, was quoted as saying.

Beijing’s subsidies for EVs was introduced in 2010, but the policy was terminated last year.


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