Electric Car Subsidy Policy Will Be Clarified Soon - Dep Minister

Subsidies available for the purchase of electric cars in 2023 will be clarified soon, according to Xin Guobin, deputy minister of the Ministry of Industry and Information Technology. Speaking at a press conference, Xin said the new energy vehicle industry in 2023 will a maintain positive trend off the back of strong growth in 2022. Authorities would continue to cultivate independent brands that delivered innovation and international competitiveness. Citing industry experts, the 21st Century Herald said it was expected financial subsidies and support policies for new energy vehicles will gradually shift from the purchase level to the user level, including the reduction of parking fees and road tolls, and the optimisation of the distribution of charging facilities.