China will not make significant cuts to subsidies for new energy vehicles (NEVs) this year, Minister of Industry and Information Technology Miao Wei told a recent gathering of auto industry execs. The government-backed Beijing News confirmed that “this year’s NEV subsidy policy will remain relatively stable and there will not be significant cuts.” China implemented… Read more »
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Elon Musk breaks ground at Tesla’s Shanghai Gigafactory
Elon Musk joined the mayor of Shanghai and other local government officials for a ground-breaking ceremony at the site of Tesla’s new Chinese plant. Tesla plans to invest around $2 billion in the facility, which is expected to have a capacity of about 500,000 vehicles per year. The company hopes to finish initial construction this… Read more »