LONDON, Jan 8, 2019
LONDON, Jan 8, 2019 /PRNewswire/ --
The EV revolution represents a number of significant opportunities for China, and the Chinese government has been keen to stimulate domestic EV production as a result. But while other countries are using incentives and subsidies to encourage the improvement of battery technologies, China gave indications that it would instead use highly punitive measures to encourage manufacturers to improve their energy densities over the coming years. An announcement this week suggests that this may no longer be the case.
The growth of the e-mobility sector represents a huge opportunity to the Chinese government
The growth in EV usage in China will have a number of far-reaching effects on the country.
As a result, the Chinese government has been keen to encourage EV production through a combination of measures.
While other countries use carrots, China uses a stick
Like other countries, China offers generous subsidies to EV consumers. When considering subsidies offered at a government and a local level, these equate to around $10,000 per vehicle currently – though China does intend to reduce this in the coming years.
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