, Columnist
China’s Closing the $6 Trillion Electric-Car Gap
Beijing is redirecting subsidies to charging infrastructure. This is commendable, but implementation will be key.
The electric subsidies slide.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is moving to close the $6 trillion cost barrier to the widespread adoption of electric cars.
As part of its much-awaited new energy policy, China on Tuesday rolled back its subsidies and imposed tougher performance requirements for electric vehicles. Beijing’s outlays will be reduced by around 60 percent, after an initial transition period that lasts until June, while local-government handouts will be terminated. This provincial funding now will be redirected to charging stations and other related infrastructure construction.