China‘s e-auto market continues to be weak and strong decline compared to the previous year. Europe, on the other hand, shines through growth. In the two largest sales markets China and the US, the development of electromobility is declining in 2019. In the largest electric vehicle market China, the new energy Vehicles (NEV) declined for the first time in the full year. Therefore, it is not surprising that China, contrary to other presums of the past months, the subsidies for NEVs, which include electro cars in addition to other vehicles with alternative drives, will not be significantly reduced this year.
The reason for this is indeed the increased sales decline in the field of alternative drives. Currently supplemented by the even shrubbery economy – especially in the automotive sector – driven by the coronavirus. Beijing has recently slowly reduced a generous five-year funding program for so-called new energy vehicles (NEVs) that began in 2016. Now, according to Bloomberg, there should be talks about an extension of subsidies. However, these are still in an early stage and there is no guarantee that the subsidies are extended.
According to the current state, the subsidies of the central government should expire at the end of 2020, but there may be further regional support measures. China‘s monthly NEV sales decreased for the first time in July 2019 for the first time in two years, which was due to the then subsidy cuts. “On the 1. July last year, there was a reduction in subsidies, and all were concerned that we will pronounce more cuts this year, “said Miao Wei, China’s Minister of Industry and Information Technology, at the EV100 annual meeting of high-ranking executives of the auto industry in Beijing. He was pleased to announce that there will be no further cuts this year.
The car manufacturers benefiting from subsidies is also a Tesla, which began with the first deliveries from his $ 2 billion in Shanghai this month and received the commitment in December of last year, from NEV subsidies to benefit.
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