China’s move to slash interest rates on auto loans, as it moves to restart an economy ravaged by Covid-19 lockdowns, is boosting the sales of electric vehicles, the South China Morning Post reported.
Domestic new energy vehicle companies such as BYD, Li Auto, Xpeng, Evergrande and Nio are expected to gain from the reduction in vehicle loan rates, the report added.
Read the full report: South China Morning Post.
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