China to abolish subsidies for electric and hybrid vehicles later this year, as announced by the authorities who are confident in the solidity of sales in this sector.

The Ministry of Finance announced in a statement published on Friday that These purchase aids will be reduced by 30% from the beginning of the year and will disappear completely by the end of 2022.

China to stop subsidizing electric vehicles by the end of 2022 comes via ChinaTechNews.com.