Norwegian battery materials firm seals GM deal
Another step in the US building out ‘China-free’ battery supply chains
Growth in their home market removes a key driver of Chinese OEMs' push for exports
China has extended the tax breaks it offers to buyers of what it calls new energy vehicles (NEVs) for another four years at a cost of RMB520bn ($72.3bn), providing a boost to the country’s flagging automotive industry.
The RMB30,000 per vehicle incentive applies to BEVs, PHEVs and FCEVs in 2024 and 2025 and will drop to RMB15,000 in 2026 and 2027.
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