India Business News: China has reported record monthly electric-vehicle (EV) sales in October, despite the end of subsidies. Local authorities have continued to offer aid
China ended an 11-year subsidy scheme for EV purchases in 2022, but some local authorities have continued to offer aid or tax rebates to attract investments as well as subsidies for consumers.
While EVs accounted for just 2.4% of India s vehicle sales in the first half of this year, EV sales grew 137% to 48,000 units during the same period, research firm Canalys says.