Policy

Three of the four show cars at Xpeng's flagship store in Beijing were sold at the beginning of the month and have not yet been restocked.

China's purchase subsidies for NEVs will be reduced by 30 percent in 2022, and no more subsidies will be provided in 2023.

Beijing's quota for fuel car license plates has been reduced from 40,000 in 2021 to 30,000 in 2022, and the quota for NEV license plates has been increased from 60,000 to 70,000.

Subsidy rollbacks won't mean less competitiveness for NEVs, but will instead promote a more mature industry, said Grace Tao, Tesla's global vice president.

The exclusive coverage is expected to see a drop in insurance costs for about 80 percent of NEV owners, but some users say Tesla is facing significant premium increases.

China's subsidies for new energy vehicle purchases are set to decrease by 30 percent in 2022 compared to this year.

For more than two decades previously, China has had strict restrictions on the share ratios of Chinese and foreign joint ventures in automobiles.

China will keep its offshore financing channels open and provide clear, transparent and actionable rules for companies to list abroad, the CSRC said.

Energy-efficient technologies, including brake energy recovery systems, will be included in the 2021-2023 dual-credit assessment.

Dedicated insurance coverage will ease some consumer concerns about buying NEVs.