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An electric bus manufactured by China's BYD is charged as part of a new public transport fleet in Santiago, Chile.   © Reuters
The Big Story

From China to the US, dwindling subsidies take shine off electric cars

Chinese policy aims to weed out weaker EV and battery companies

KENJI KAWASE, Nikkei Asian Review chief business news correspondent | China

TOKYO -- Beijing's decision to gradually fade out its generous subsidies for electric vehicles was widely known in the industry, but when the official announcement came on March 26, many were caught by surprise.

"The new policy was more aggressive than we expected," said Joseph Wong, Nomura's Hong Kong-based automotive industry analyst, in a research note published the same day.

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