Sales of electric cars in China jumped almost 62% in 2018 according to official figures.
Booming growth in China's electric vehicle market won't slow because of Beijing's drastic reduction in subsidies, according to Fitch Ratings.
New rules issued on March 26 will see central government subsidies totally removed for EVs with a range below 155 miles . More expensive electric vehicles with higher specifications will see the incentives slashed by as much as 60%. But Fitch said Monday that the ticket price of an electric car in China is unlikely to surge as manufacturers will subsidize customers and pass on at least some of the losses to suppliers. The agency believes EV makers will continue to"prioritize volumes and market share over profitability."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple slashes iPhone prices in ChinaThe price cuts come as iPhone sales have fallen in China.
Read more »
Sikma, Moncrief, Bobby Jones, Bill Fitch among 2019 HOF classMINNEAPOLIS - Bill Fitch, Sidney Moncrief, Jack Sikma, Paul Westphal, the Tennes...
Read more »
Sikma, Moncrief, Weatherspoon, Jones, Fitch among 2019 Hall of Fame classMINNEAPOLIS - The Naismith Memorial Basketball Hall of Fame Class of 2019 consis...
Read more »
Fitch says 737 Max grounding to hurt Asian airline industry more in second quarterFitch Ratings said on Friday the impact on the airline industry in Asia from the...
Read more »
Ford Brings Out the Jumper Cables in China…AgainFord relaunched its China business, promising a bevy of new products, less than a year and a half after its last reboot failed to arrest a sharp decline in the company’s Chinese sales.
Read more »
Russia and China Target Middle East Arms DealsRussia and China are stepping up their efforts to woo Persian Gulf arms buyers, encroaching on a market long dominated by the U.S. and Europe and raising security concerns in Washington.
Read more »
China says invited to join FAA panel on Boeing 737 MaxChina's aviation regulator has been invited to join the U.S. Federal Aviati...
Read more »
China struggles to ease concerns over Silk Road project as summit loomsChina is struggling to ease worries about President Xi Jinping's signature ...
Read more »
Ford to launch more than 30 new models in China over next three yearsFord plans to launch more than 30 new models in China over the next three years, of which over a third will be electric vehicles, it said on Wednesday. As David Pollard reports, the announcement comes amid efforts to reconfigure its global presence...
Read more »
China providing services to woman arrested at Mar-a-LagoBEIJING (AP) — Chinese diplomats have been informed of the arrest of a Chinese woman at President Donald Trump's Mar-a-Lago club over the weekend and are providing her with consular services, the...
Read more »