China's NEV market may contract this year due to subsidy cut: industry association

FILE PHOTO: A carrier trailer transports newly manufactured cars at a port in Dalian, Liaoning province, China May 21, 2019. REUTERS/Stringer/File Photo

Chen Shihua, assistant secretary general at China Association of Automobile Manufacturers , made the comment on Monday after the association reported that sales of NEVs fell 45.6% in October from year-ago levels, following a 33% decline in September. China has been a keen supporter of NEVs and has implemented sales quota requirements for automakers. But it cut subsidies for NEVs this year as part of an overall plan to reduce subsidies, making the vehicles costlier.

EVs Are more costly without government intervention a waste of taxpayer dollars

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