China scraps list of recommended battery suppliers
2019-06-20 12:49:17
China has scrapped its list of recommended battery suppliers, the industry ministry said on Monday, a decision foreign companies said could open up the world's biggest market for electric-vehicle batteries. China, the world's largest new-energy vehicle market, has seen increased investment from South Korean battery makers LG Chem and Samsung SDI Co. amid expectations for a gradual change in policy. The list, which did not include foreign firms when it was first published in 2015, in part to spur development of a domestic battery industry, was abolished on Friday as part of government management reforms, the ministry said on its website. It gave no further details. Foreign makers complained the list discouraged competition and became linked to generous subsidies for recommended domestic companies such as Contemporary Amperex Technology and BYD Co. "We are relieved that these lists are going away, but we cannot be certain if the Chinese government is committed to abolish subsidies until they actually remove all subsidy policies," said an official at one foreign battery maker who declined to be named. China has raised its standards for new energy vehicles that qualify for subsidies and reduced the amount it is willing to provide to relevant companies, as it looks to wean the sector off government support.
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