China to reduce electric vehicle subsidies from 2019: Bloomberg

In what is likely to be a part of Beijing’s strategic “Made in China 2025” policy, China is pushing automakers to focus on improving the technology in next generation cars rather than rely on its subsidies to meet sales targets.

On Friday, as per a report by Bloomberg citing anonymous sources, Beijing is considering a reduction in electric-vehicle subsidies in 2019.

As part of its wider strategic move, China is pushing automakers to focus on improving their technology rather than rely subsidies in their fiscal planning.

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