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Bloomberg
Electric Car Stocks Jump as China Signals Lull in Subsidy Cuts
Miao Wei, the minister for industry and information technology, told an audience in Beijing on Saturday EV-purchase subsidies won’t be cut July 1, like they were on that date last year. Tesla, which is just starting to deliver locally built cars to customers, saw its stock climb above $500 for the first time as optimism about China combined with a bullish analyst report. “Please rest assured: There won’t be a further cut on July 1 this year,” Miao said in a speech at an industry forum.
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