Subsidy cut has dented sales, but China's EV manufacturers need better products to win over buyers
- China
- 5 min read
- Dec 12, 2019
- By Hua Nan, Wang Xiao'e
By Lu Shu © CompassList
Eliminating subsidies is a painful must for the sustainability of China’s electric vehicle industry
About 151,000 new electric vehicles were purchased in China in June, the high for 2019. Since then, the number of vehicles sold has declined for four consecutive months, falling to a low of 75,000 units in October, a 45.6% drop from October 2018.
In 2009, when annual sales of new energy...
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