CATL, a Chinese company that is the world’s largest producer of electric vehicle batteries, displayed at the Shanghai auto show in April a lithium-ion battery that can be recharged in five minutes.
Shoppers are taking advantage of a $42 billion government trade-in program aimed at boosting spending. But in recent weeks, some cities have started to cut back on the subsidies.
A shopping area in Beijing. Confronting a trade war with the United States, China’s government has poured $42 billion this year into a consumer trade-in program.
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