Nio climbs as China announces extension of its trade-in subsidy to boost EV buying
China’s trade-in subsidies intended to boost EV and low-emission vehicle purchases will be extended into 2026, according to a notice by Chinese officials on Tuesday. Shares of Chinese EV maker Nio climbed more than 6% on Tuesday morning.
Prior to the notice, China had signaled it would be pulling the plug on many subsidies for its maturing EV sector.
The extended trade-in subsidies will provide consumers up to $2,850 to scrap their older vehicles and purchase a qualifying new energy vehicle. The EV stimulus plan is part of a broader $8.94 billion program intended to boost the purchase of new consumer goods including refrigerators, smartphones, and washing machines.
The extended trade-in subsidies will provide consumers up to $2,850 to scrap their older vehicles and purchase a qualifying new energy vehicle. The EV stimulus plan is part of a broader $8.94 billion program intended to boost the purchase of new consumer goods including refrigerators, smartphones, and washing machines.
