New Green Vehicle Incentives Drive for Higher Performance
China’s latest incentives to promote new-energy cars include a broader roll-back of subsidies as Beijing tries to wean the sector from state support, though makers of higher-performing vehicles will continue to receive strong backing, according to a newly released government notice.
Strong government incentives have helped China to become the world’s largest market for new-energy vehicles (NEVs), which include pure electric, hybrid and hydrogen fuel-cell models. But abuse of those incentives has led to a boom in producers of mediocre models with limited range and older technology, prompting Beijing to rethink the program.
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