China extends NEV subsidies two years, but more policy changes likely to come

April 03, 2020
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China's plug-in vehicle policies have been among the most important in the world, helping to create the largest market for plug-in vehicles (which it calls new energy vehicles, or NEVs). As the automotive industry begins to recover from the worst of the COVID-19 pandemic, China's extension of NEV subsidies is aimed at boosting sales to aid struggling automakers. However, at the same time, officials are discussing cutting other programs – such as the NEV sales mandate and emissions laws – in order to keep the market afloat. Clients should be aware the next year will likely feature ongoing major policy changes as the government looks to support a struggling automotive sector but understand that 2020 will nonetheless see a drop in NEV sales.

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