China Boosts EV Subsidies Amid Slowing Economy
Amid China's economic slowdown, Beijing has doubled EV subsidies to drive consumer spending. The country leads global EV deliveries with 60% market share, though growth is expected to drop to 20%.
Chinese EV makers are expanding into Europe to sidestep tariffs, potentially disrupting regional car markets. Calls to shift focus from competitive pricing to sustainable growth echo as incentives are deemed insufficient to spur EV sales amidst a competitive landscape.
Efforts to enhance new car purchases over used ones highlight the push towards a healthier market environment.
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China’s Made-in-Europe EVs Pose New Threat to Region’s Carmakers
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