Policy
EU announces anti-subsidy probe into EVs from China
Global markets are now flooded with cheaper Chinese EVs and their price is kept artificially low by huge state subsidies, European Commission President Ursula von der Leyen said.
Shanghai aims for BEVs to contribute over 50% of new car sales by 2025
In the first half of the year, NEVs, including BEVs and PHEVs, saw 152,033 license plate registrations in Shanghai, contributing to 51.24 percent of all vehicles.
China issues new measures to boost auto consumption with emphasis on support for NEVs
The document lists 10 measures, three of which are directly related to support for the NEV sector, and specifically mentions support for the battery swap model.
China issues new rules that will give automakers 40% fewer credits for each NEV produced
China has revised its dual-credit policy, one of the key drivers of the rapid growth of the NEV industry, and the changes will take effect on August 1.
China's extended tax breaks should facilitate steady EV sector growth, Fitch says
PHEVs get the same tax exemption as BEVs, and the extension of the tax break will attract more automakers to the market, Fitch said.
China's Ministry of Finance explains in detail how consumers will enjoy NEV tax breaks in 2024-2027
For a NEV with a pre-tax price of RMB 300,000, consumers will continue to be exempt from purchase tax from 2024-2025, while they will be subject to RMB 15,000 in purchase tax from 2026-2027.
Nio welcomes China's move to extend tax breaks for NEV purchases
From now until 2027, pure electric vehicles will continue to enjoy purchase tax incentives, which will give Nio vehicles a significant advantage over fuel-powered luxury vehicles in terms of purchase costs, Nio said.
China's vehicle purchase tax exemptions expected to reach $72 billion in 2024-2027
China's cumulative tax exemptions for NEVs exceed RMB 200 billion by the end of 2022.
China extends NEV purchase tax breaks for 4 years
China will still offer NEV purchase tax breaks from 2024 to 2027, but the intensity will diminish in steps.
China may introduce NEV support measures soon
China's State Council Information Office will hold a briefing at 10 am Beijing time on June 21 on promoting the development of the NEV industry.
