Mexican Media Brands
EV Prices to Jump in China as Subsidies Shrink
The price of electric vehicles in China could jump 25% or more next week when the central government cuts back on subsidies, The Nikkei says.
#regulations #hybrid
Share
The price of electric vehicles in China could jump 25% or more next week when the central government cuts back on subsidies, The Nikkei says.
On Monday, the incentives are scheduled to drop by roughly 50% to 18,000-25,000 yuan ($2,600-$3,600) for electrified vehicles that can travel at least 250 km (155 miles) per charge. Incentives will disappear entirely for hybrids and all-electric models with shorter ranges.
The government program boosted sales of hybrids and all-electric cars 60% to 1.25 million units last year. Central planners, who began narrowing the incentives two years ago, intend to remove them entirely in 2020.
Beijing still aims for sales of 2 million electrified vehicles next year. But The Nikkei cautions that ”inevitable” price hikes will make that goal difficult to achieve.
RELATED CONTENT
-
Tesla Maxes Out on Tax Credit as U.S. Sales Reach 200,000
Tesla Inc. says it will deliver its 200,000th electric vehicle in the U.S. this month, thereby triggering a phase-out of the $7,500 federal tax credit its vehicles have enjoyed.
-
Carmakers Ask 10 States to Help Bolster EV Sales
Carmakers are asking for more support for electric cars from states that support California’s zero-emission-vehicle goals, Automotive News reports.
-
Porsche Racing to the Future
Porsche is part of VW Group and it is one of the companies that is involved in putting vehicles on the U.S. market with diesel engines in violation of EPA emissions regulations, specifically model year 2013–2016 Porsche Cayenne Diesel 3.0-liter V6 models.