A Glimpse Into China’s EV Policies: Subsidy Cut Is Nothing But ‘Good News’

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Experts discuss about the current development of the Chinese electric vehicle industry during a session at the World Economic Forum in Dalian, China on July 1, 2019.

Since Beijing announced to scale back subsidies on electric vehicles (EVs) that made consumer worry about soaring EV prices, China’s WM Motor – a new energy vehicle (NEV) developer backed by Baidu and Tencent – believes that the subsidy cuts are nothing but "good news" that will help local EV makers focus more on innovation and improvement of products.

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