China’s EV-Makers Race to Secure Orders Before Subsidies End

Chinese electric-vehicle (EV) makers are pulling out all the stops to lure buyers into placing orders by the end of 2022, before subsidies for new-energy vehicle (NEV) purchases are completely phased out on Jan. 1, which has fueled fears sales will drop off a cliff in the new year.

MG, which is owned by state-owned SAIC Motor Corp. Ltd., AITO, owned by Huawei-backed Seres Group Co. Ltd., and XPeng Inc., have all made similar promises that they will pay the price difference caused by the termination of the government subsidies for vehicles ordered in 2022, but delivered in 2023.