Halting of NEV Subsidies Causes Profit Pressure for Chinese Automakers

(Source: BYD)

The new energy vehicle subsidies issued by the Chinese government for the past 13 years are scheduled to end this year. However, the vast majority of domestic NEV enterprises have not yet achieved profitability, and are still investing in large-scale research and development. As subsidies get smaller and smaller, making profits is now the p…