Beijing Overhauls Electric Vehicle Incentives to Weed Out Cheaters
(Beijing) – Beijing is mulling a new incentive scheme for electric vehicle (EV) production to replace existing subsidies that have encouraged the design and manufacture of mediocre products, as experts cautioned that stronger supervision is needed to discourage more unscrupulous activity.
Emerging Chinese industries often go through boom-bust cycles, as companies rush to make products in areas where they have little or no experience, often to help meet central government targets. Such cycles often result in massive oversupply, as the market gets flooded with mediocre products that nobody wants.
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