Subsidies Cut! EV Sales Fall
The short version:
. BYD Co. Sales declined 2.8% in Hong Kong.
. Blue Park New Energy Technology Co. retreated 2.9% in Shanghai.
.Contemporary Amperex Technology Co. Ltd dropped 2.5%.
.The Chinese government cut subsidies of as much as 50,000 yuan ($7,165) per EV by half.
The Chinese government is not paying adequate attention to popularize electric vehicles. What happened? All of a sudden, why in the nick of time did it cut off subsidies, and that too by almost a half. I would suggest, the (UN) United nations incorporates an act which would require all the countries to pay funds for the promotion of Electric Vehicle Technology. This will give a huge boost to the sales of electric vehicles in every country, and will provide a solid foundation for the next gen electric revolution.The catch line being: ‘No Diesel no petrol, electric vehicles is our goal’.