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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.
China launches nationwide promotions to boost auto consumption
The moves include holding auto festivals in 100 cities and promoting consumption of NEVs in rural areas.
China to extend and optimize NEV purchase tax exemption policy, says State Council meeting
China will further stabilize market expectations, optimize the consumption environment, and release the consumption potential of NEVs to a greater extent, the meeting also mentioned.
China mulls extending tax exemption on cheaper NEVs for another 4 years, report says
China is considering extending the tax exemption for NEVs priced below 300,000 yuan for another four years to spur consumer demand, Bloomberg reported.