Posts Tagged ‘Subsidy’
China car trade-in subsidy halted in some areas as funds run low
[HONG KONG] China’s trade-in subsidy to boost sales of electric and fuel-efficient vehicles has been suspended in key cities across at least six provinces as funds run short and officials scrutinise the prevalence of ‘zero-mileage’ used cars. Cities in provinces including Guangdong, Henan and Zhejiang have suspended the programme, which gives consumers up to 20,000…
Read MoreMalaysia committed to 2025 petrol subsidy cut but no fixed date
[KUALA LUMPUR] Malaysia is committed to reducing petrol subsidies in the second half of the year and is refining its plan as US tariffs darken the economic outlook. The government “will continue to assess inputs and feedback in refining details” of its fuel subsidy revamp as it actively engages with a wide range of stakeholders,…
Read MoreXiaomi hits fresh record high on China’s subsidy programme boost
XIAOMI’S shares surged to a fresh record in Hong Kong on Friday (Feb 7), as new product launches and benefits from China’s nationwide subsidy programme burnished the company’s sales outlook. The stock has rallied 12 per cent this week, after the company said it will release two new products – a high-end SU7 Ultra…
Read MoreXiaomi hits new high on China’s subsidy programme boost
XIAOMI’S shares surged to a fresh record in Hong Kong on Friday (Feb 7), as new product launches and benefits from China’s nationwide subsidy programme burnished the company’s sales outlook. The stock has rallied 12 per cent this week, after the company said it will release two new products – a high-end SU7 Ultra…
Read MoreChina renews car trade-in subsidy to boost hybrid, EV sales
CHINA has renewed a trade-in subsidy of up to 20,000 yuan (S$3,724) to help underpin sales of fuel-efficient vehicles, including electric cars and hybrids. Buyers who trade in an old car for a new electric vehicle (EV) or plug-in hybrid will receive a 20,000 yuan subsidy, while people who purchase a petrol car with an…
Read MoreChina auto body seeks subsidy extension as EV exports take hit
CHINA’S biggest industry group for automobile makers urged the government to extend concessions for trading in older vehicles, as part of measures to spur domestic car sales amid a drop in electric vehicle exports. The vehicle trade-in policy, which offered a subsidy payment as high as 20,000 yuan (S$3,700), was credited for record high auto…
Read MoreUS finalises more than US$6.1 billion chips subsidy for Micron Technology
THE US Department of Commerce has finalised a subsidy of more than US$6.1 billion for memory chip maker Micron Technology to support the construction of several domestic semiconductor facilities, according to a White House statement on Tuesday (Dec 10). The investment, unchanged from the amount originally announced in April, marks one of the largest government awards to…
Read MoreIntel’s $7.86B US Subsidy Restricts Sale Of Chipmaking Unit
Intel has stated that its $7.86 billion in U.S. government subsidies restricts its ability to sell stakes in its chipmaking unit if it becomes an independent entity. With the new U.S. government subsidies, the terms outlined in Intel’s securities filing, on Wednesday, set certain restrictions on how Intel Foundry can be managed. Intel disclosed that…
Read MoreChina Eastern pulls Madrid service amid subsidy crackdown
CHINA Eastern Airlines is pulling its twice-weekly flight from Wenzhou to Madrid at the end of this month as the country’s aviation officials crack down on subsidies underpinning international flights from smaller cities. The carrier has stopped accepting bookings for the route, which started in November last year, its website shows. While Wenzhou, about 460…
Read MoreTesla sales perk up after China boosts electric vehicle subsidy
TESLA is expected to post its first quarterly sales increase this year after car buyers in China, the world’s largest electric vehicle (EV) market, seized on a sweetened government incentive. The automaker likely delivered around 463,900 cars worldwide in the third quarter, roughly 7 per cent more than the same period last year, according to…
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