January 11, 2020 / 7:44 AM / 12 days ago

China will not cut NEV subsidies in July 2020 - industry minister

BEIJING/SHANGHAI, Jan 11 (Reuters) - China will not cut subsidies for new energy vehicles (NEV) again in July this year, the country’s Minister of Industry and Information Technology Miao Wei said on Saturday.

He made the comments at the EV100 forum in Beijing, an annual event where senior auto industry executives meet to discuss policies and the market.

The minister also said that NEV sales in the country hit 163,000 units in December and that the industry recorded sales of 1.2 million NEVs for the full year. (Reporting by Yilei Sun in Beijing and Brenda Goh in Shanghai; Editing by Jacqueline Wong)

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