China scrappage scheme to promote EVs
China has released details of a cash for clunkers scheme that it first announced earlier this year. The cash for clunkers scheme extends across a number of manufactured goods, not just cars, but it is obviously the car component that we are most interested in. When the scheme was announced, we were mildly enthusiastic, but this announcement which includes the provision of funds for the scheme from central government makes us much more excited. Under the scheme, anyone who ditches an old car for a new one can receive state aid. If the owner wants to buy a NEV (BEV...
Topics
Cash for clunkers
China
EVs
ICE
Subsidies
