Policy
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China halves purchase tax on mainstream ICE vehicles for rest of the year
The purchase tax will be cut in half for passenger cars of 2.0 liters and below with a purchase date between June 1 and December 31 and with a price not exceeding RMB 300,000.
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Shanghai to lift Covid lockdown from June 1
Tesla, Nio showrooms will be opened soon, and the launch of Nio ES7 will not be far away.
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Shenzhen issues measures to boost consumption, including NEVs
Shenzhen will increase the availability of quotas for regular cars and provide subsidies to consumers who buy NEVs.
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China mulls extending EV subsidies due to expire at year-end, report says
China is in talks with automakers to extend EV subsidies that were set to expire in 2022, aiming to maintain growth in a key market amid a broader economic slowdown, Reuters said.
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China expected to introduce new policies to boost rural car consumption in early June, report says
China will encourage consumption by rural residents of cars priced at less than 150,000 yuan ($22,230), including ICE vehicles and NEVs, according to local media.
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China to issue new policies to boost car consumption in rural areas as soon as this month, report says
A new round of policies to boost auto consumption in rural areas will be released soon, possibly as soon as this month, Cailian reported.
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China plans to end crackdown on tech giants amid economic slowdown, reports say
China plans to hold a symposium with the country's big tech companies to show them that the regulatory storm will end to support the economy, according to multiple reports.
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EV stocks surge in Hong Kong as top meeting vows to stabilize China's economy
At press time, Nio was up 6.96 percent in Hong Kong, Xpeng was up 5.61 percent and Li Auto was up 7.08 percent.
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Guangdong introduces new measures to encourage consumption, including NEVs
On top of state subsidies, Guangdong will offer additional subsidies to consumers who purchase NEVs.
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China drafting action plan to promote charging facilities along public roads
China's Ministry of Transport has drafted the plan and is seeking comments from different regions.
