Will the suspension of governmental subsidies impact the growth of the Chinese EV industry?

Chinese government lifted the subsidies policy on Chinese electronic autonomous vehicles in March, claiming that the industry has been relying too much on the beneficial policies and it is damping their motivation for innovation. Despite the unfavored support, Chinese EV leader BYD manifested its positive outlook that environment-friendly travel lifestyle should be the country’s long-term ambition, believing that the cancelation of the allowance may well correct the business focus on future development from being policy driven to market driven.