China signals it will pull plug on subsidies for EVs with five-year plan exclusion

China's EV Industry Matures: Government Shifts Focus from Subsidies to InnovationChina, the world's largest EV market, has removed electric vehicles from its five-year development plan, signaling the industry's maturity. After years of government support, the sector now faces a shift towards market-driven survival, with subsidies winding down and consumer tax breaks likely to disappear by 2027. Chinese automakers like BYD and Xiaomi are expected to compete more on their own strengths, focusing on innovation and advanced features to succeed in the vast Chinese market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.