China To Cut New Energy Vehicle Subsidies By 30% In 2022
China will cut its subsidies on new energy vehicles (NEV), such as electric cars, by 30% next year, the Finance Ministry said on Friday. The Ministry said on its website the 2022 NEV subsidies policy will terminate on December 31, 2022, and NEV will not be subsidised afterwards. The ministry had said in April 2020 that subsidies for NEV would be cut from 2020 to 2022 by 10%, 20% and 30% respectively.
For NEVs for public transport, subsidies would be cut by 10% in 2021 and 20% in 2022.
China, the world's biggest auto market, has set a target forNEVs, including plug-in hybrids and hydrogen fuel cell vehicles,to make up 20% of auto sales by 2025.
Global automakers such as Volkswagen AG, GeneralMotors Co, Toyota Motor Corp and Tesla Inc are ramping up electric vehicle production in China
Global automakers such as Volkswagen AG, GeneralMotors Co, Toyota Motor Corp and Tesla Inc are ramping up electric vehicle production in China.The Ministry also said China would tighten up supervision of NEV safety issues to prevent accidents.
Industry body China Association of Automobile Manufacturers estimated earlier this month that sales of NEVs in China would grow by 47% to 5 million this year.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Latest News
car&bike Team | Feb 1, 2026Tata Punch Sales Cross 7 Lakh Units; 2 Lakh Units Sold In Last 12 MonthsThe Punch had crossed the 5 lakh unit sales milestone in January 2025.1 min read
Jaiveer Mehra | Feb 1, 2026Auto Sales Jan 2026: Tata Claims Second Place With Over 70,000 Units Sold; Hyundai Reports Best-Ever Domestic SalesTata reported domestic passenger vehicle sales of over 70,000 units on the back of best ever sales of the Nexon and Punch in the month.3 mins read
Jaiveer Mehra | Jan 31, 2026New Renault Duster For India Vs For Europe: What’s Different?Renault has made notable changes to the Duster to better appeal to the Indian car buyers. But just how different is it from its global sibling?1 min read
Jaiveer Mehra | Jan 30, 2026Jeep India Confirms ‘First Model of Future Lineup’ To Arrive In 2027: What Could It Be?The SUV maker confirmed its first all-new model for India since 2022.1 min read
Jaiveer Mehra | Jan 30, 2026New Bentley Continental GT S Debuts As Sportier Alternative To Standard CGTThe GT S shaves the 0-100 kmph time down from 3.7 seconds to 3.5 seconds despite not offering any additional power.1 min read
Jaiveer Mehra | Jan 29, 2026Tesla Model S, Model X Production To End By Mid-2026Company CEO Elon Musk made the announcement during the company’s Q4 2025 earnings call.3 mins read
Bilal Firfiray | Jan 21, 2026Tata Punch Facelift Review: New Turbo Engine; Same Old SoulWith the update, the Tata Punch facelift retains its character of being a healthy runabout, which is perfect for Indian roads. But have these changes made it any better?7 mins read
Amaan Ahmed | Jan 17, 2026Bajaj Chetak C25 First Ride Review: Basic, Likeable E-Scooter For First-Time RidersThe Chetak C25, in quite a few ways, is poles apart from the larger and more powerful 30 and 35 Series models, but in its mannerisms, it is very much a Chetak.8 mins read
Bilal Firfiray | Jan 9, 2026Toyota Urban Cruiser Hyryder: 10,000 km Long-Term ReviewAfter spending over three months and 10,000 km with the Toyota Urban Cruiser Hyryder Hybrid, we were impressed by its real-world mileage, seamless hybrid, practical comfort, and Toyota reliability. Is it the best C-SUV then?5 mins read
Seshan Vijayraghvan | Jan 8, 20262026 Mahindra XUV 7XO Review: Big On Tech, Bigger On ComfortThe new Mahindra XUV 7XO is flashier, feature packed, and comes with more advanced tech. But are the changes just incremental or actually substantial?1 min read
Preetam Bora | Jan 10, 2026Simple One Gen 2 First Ride Review: 265 km Claimed Range!The Gen 2 model of Simple Energy’s first electric scooter gets a fair few updates, including new features, tech, more range and lighter weight. We spent a couple of hours with the Simple One Gen 2 to find out if it manages to impress.6 mins read