China's government announced in July a subsidy of more than $2,800 when consumers scrap an older car to replace it with an EV, doubling a subsidy introduced in April. The subsidy for a more fuel-efficient combustion vehicle is just over $2,100.

China’s passenger-vehicle sales rose in September, reversing five months of declines thanks to supportive government policies and improving consumer sentiment.

Volkswagen AG’s China sales slid 15% in the third quarter as Germany’s biggest carmaker continued to lose ground in key markets in the shift to electric vehicles.