www.zerohedge.com BY TYLER DURDEN
The Chinese city of Shanghai is going to be subsidizing the purchase of pure electric vehicles with 10,000 yuan per unit incentives, beginning in June and ending at the end of 2022, the local government said this week.
“Consumers whose vehicles have been sold or scrapped will receive the subsidy, if they purchase a new pure electric vehicle from dealers or stores registered in Shanghai,” Bloomberg wrote in a wrap up Friday morning.
Recall, just yesterday we had pointed out that Tesla’s Shanghai plant was back up and running at full capacity, and that the extent of the electric vehicle market’s success this year will continue to rely on whether or not Beijing embraces subsidies.
