EV and battery thread, page-332

China’s Cash-for-Clunkers Policy to Fuel $26 Billion More EV Sales

https://www.bloomberg.com/news/news...o-fuel-26-billion-more-electric-vehicle-sales
Cranking Up the Heat on ICE

China’s cash-for clunkers trade-in program could supercharge electric-vehicle demand in the coming months, driving total EV sales to more than 10 million this year, according to BloombergNEF.
The government announced last month it would double trade-in subsidies first introduced in April in a bid to boost demand for cars, after sales growth slowed in the first half of the year.

Under the increased incentives, consumers can receive 20,000 yuan ($2,760) to scrap an old, higher-emissions car and replace it with an EV, or 15,000 yuan toward trade-ins for a more fuel-efficient gasoline car. Many cities followed suit, offering additional incentives ranging from around $140 to $1,400 per vehicle.