GUANGZHOU -- China's market for electric vehicles, the world's largest, screeched to a halt in 2019 after several years of torrid expansion, as the government sharply reduced subsidies on EVs.
New energy vehicles, most of which are electric, declined 4% to 1.2 million units, marking the first-ever contraction in the year. The sharp deceleration runs counter to the predicted swift and massive shift to EVs in the world's biggest auto market.
