Transportation
China’s EV Makers Got $231 Billion Aid Over 15 Years, Study Says
- New findings based on analysis on five main areas of support
- Per-car subsidy falls significantly as production volumes rise
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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.
Slightly more than half the total amount of support was in the form of sales tax exemptions, according to the research from Scott Kennedy, a China specialist at the Center for Strategic and International Studies. The rest is made up of nationally approved buyer rebates, government funding for infrastructure such as charging stations, government procurement of EVs as well as R&D support programs, he wrote in a blog post.