China NEV Market
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'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 EV transition: Shanghai fuel car license plate auction participants hit 99-month low
Shanghai, home to Tesla's China factory and Nio's global headquarters, has seen NEV penetration reach about 50 percent.
China extends NEV purchase tax exemption until end of 2023 in official announcement
Three Chinese government departments announced in a joint statement that NEVs purchased between January 1, 2023 and December 31, 2023 will be exempt from purchase taxes.
CCTV report highlights long delivery cycles for NEVs in China, Nio and BYD featured
In June and July, Nio stores saw significant increases in traffic and orders, making it difficult to meet delivery demand, according to an executive at the EV maker.
High temperatures could hit China's NEV sales in July, analysts say
China's NEV sales in June exceeded expectations and hit a record high, but recently the market began to worry about weakening demand in the first two weeks of July.