China’s electric vehicle industry received at least $231 billion in government subsidies and aid from 2009 through to the end of last year, even as the amount of support per vehicle has declined, according to a new research.
It’s not even close actually. The figures for China are so high because the government was giving the manufacturers of the batteries and cars direct subsidization. While also giving buyers tax breaks for purchasing.
Some of China’s EV makers still aren’t even profitable. But government support has ensured the cash flow needed to continue operating.
It’s not even close actually. The figures for China are so high because the government was giving the manufacturers of the batteries and cars direct subsidization. While also giving buyers tax breaks for purchasing.
Some of China’s EV makers still aren’t even profitable. But government support has ensured the cash flow needed to continue operating.