BEIJING -- China is reducing subsidies for new-energy vehicles by 20% in 2021 following a solid recovery in sales, moving to pull back fiscal support designed for a pandemic-battered market.
Environment
China slashes eco-car subsidies 20% as sales rebound
New-energy-vehicle market expected to reach 1.8m units in 2021
An Infiniti electric concept car, the Qs Inspiration, at a shoot for a car advertisement in Shanghai. © Reuters
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