BEIJING -- China looks to extend the expiring subsidies supporting the purchase of electrified vehicles as the country hopes to reverse the recent decline in sales, a senior Chinese official said Monday.
Beijing had begun phasing out the subsidies for so-called new-energy vehicles, and the incentives are scheduled to conclude by the end of this year. But domestic sales of these autos dipped 4% in 2019 to 1.2 million units, the first annual retreat for the industry.
