China Extends EV Subsidies To Reverse Flagging Sales ...Middle East

China has extended a tax break program for buyers of electric vehicles in a bid to reverse a decline in sales, Bloomberg has reported, citing a government briefing. The latest sales numbers show that EV purchases in the world’s biggest market for electric vehicles rose by 41% over the first five months of the year. While quite an increase in itself, this compared to a 120% increase in EV sales over the first five months of last year. The incentive program that the Chinese government has crafted for EV purchases comes down to a waiver of the…

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