A NIO EP9 EV on display at Beijing International Automotive Exhibition on April 26, 2018.
“Please rest assured. There won’t be a further cut on July 1 this year,” Miao said in a speech at an industry forum.Though the minister later clarified his comments, investors and the industry interpreted his remarks as good news for EV manufacturers that were hit by subsidy reductions last year. “In order to stabilise market expectations, and ensure the industry’s sustained development, subsidies on new-energy vehicles will stay relatively stable this year, and they won’t be scaled back significantly,” the radio station quoted the minister as saying.