China slows NEV subsidy cuts; limited support seen for lithium, cobalt prices

China will cut its new energy vehicle (NEV) subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country’s ministry of finance announced on Thursday April 23.

Compared with the 50% cut to subsidies in 2019, future reductions in principle will be done so at a slower rate of 10% in 2020, 20% in 2021 and 30%...

Published

Susan Zou

Carrie Shi

April 24, 2020

12:08 GMT

Beijing, Shanghai