China promises subsidies to boost falling electric car sales

China promises subsidies to boost falling electric car sales

China is promising more subsidies to shore up plunging electric car sales amid the COVID-19 pandemic. Subsidies and tax breaks due to end this year will be extended by two years. Beijing has spent billions of dollars subsidizing electrics in hopes of cleaning up China’s smog-choked cities, turning China into the biggest market for electrics.

pennydreadful
pennydreadful
Rocky
Rocky 4 weeks

Yes because artificially manipulating the market always has such fantastic consequences. I guess I'm glad it's China shooting itself in the foot for a change.

Paul C
Paul C 4 weeks

Well now we know why China was building all those power plants a year or two ago. Gotta gave some way to charge up those electric cars. https://www.wired.com/story/china-is-still-building-an-insane-number-of-new-coal-plants/amp

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