China to cut subsidies on EVs by 20% in 2021

Nio is beginning to see deliveries take off. — A Nio ES8 battery-electric crossover. (HANS GREIMEL)

By:

Staff and wire reports

December 31, 2020 12:00 PM

BEIJING -- China will subsidies by a fifth next year on new energy vehicles such as electric cars, the finance ministry said on Thursday, as it seeks to combat pollution and cultivate home-grown champions in the auto sector.

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