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China signals it will pull plug on subsidies for EVs with five-year plan exclusion
China has sent a clear signal that it is willing to pull the plug on subsidies for its electric vehicle industry after years of big-ticket government support fuelled a boom that has left the world's second-largest economy saddled with vast oversupply, prompting it to push into global car markets. Top policymakers omitted electric vehicles from their list of strategic industries in their recent five-year development plan for 2026-2030, the industry's first exclusion in more than a decade. Analysts say the move is evidence the Beijing considers the industry to be mature and no longer requires the same level of ... (full story)
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