China, the world’s largest car market, has set a target of 20 percent alternative drives in car sales by 2025.
(Photo: Bloomberg)
Beijing China will cut subsidies for cars with alternative drives by 30 percent in the new year. At the end of 2022, the support should then be completely eliminated, as the Ministry of Finance announced on its website.
China, the world’s largest car market, has set a target of 20 percent alternative drives in car sales by 2025. International car companies such as Volkswagen, General Motors, Toyota and Tesla are ramping up their electric car production in China.
The funded group of so-called NEV (“new energy vehicles”) includes not only electric cars, but also hybrid vehicles and cars with hydrogen fuel cells.
More: Chip shortages and e-car boom: these are the challenges German car manufacturers will have to master in 2022
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