Chinese government subsidies of up to $8.4bn and a waiving of some taxes helped boost sales of electric vehicles in the country to around 331,000 units in 2015, a rise of by 37% on the previous year, according to a report published in the journal Energy Policy. The paper said "aggressive non-monetary policies" adopted in 2014 and 2015 in Beijing, Shanghai and Shenzhen and aimed at lowering pollution also helped boost sales figures. However, the paper also warned the growing sector was at risk from protectionism and "unsustainable" subsidies.
Chinese government subsidies of up to $8.4bn and a waiving of some taxes helped boost sales of electric vehicles in the country to around 331,000 units in 2015, a rise of by 343% on the previous year, according to a report published in the journal Energy Policy. The paper said "aggressive non-monetary policies" adopted in 2014 and 2015 in Beijing, Shanghai and Shenzhen and aimed at lowering pollution also helped boost sales figures. However, the paper also warned the growing sector was at risk from protectionism and "unsustainable" subsidies.