New China EV incentives fresh boost for cobalt, lithium price

MINING.COM | China on Thursday announced changes to purchase incentives for electric and hybrid cars, locally referred to as new energy vehicles (NEV), which earlier this month was extended for two years until the end of 2022. 

Under the modified policy, subsidies are reduced year-on-year through to 2022, starting at a 10% cut this year.

While at first blush this may be a negative, BMO Capital Markets points out that “there is now an incentive for buyers to bring forward their purchase, whereas previously they may have delayed, supporting both lithium and cobalt markets”.

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