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China Grants Tax Breaks for 42,800 EVs and Plug-Ins
China has exempted the usual 10% sales tax on 42,800 passenger and commercial electric and plug-in hybrid vehicles since the program began last September, the Ministry of Industry and Information Technology reports.
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China has exempted the usual 10% sales tax on 42,800 passenger and commercial electric and plug-in hybrid vehicles since the program began last September, the Ministry of Industry and Information Technology reports.
The ministry says the tax breaks to date have been used on 36,600 passenger cars and 6,200 commercial vehicles.
The program, expected to run through 2017, covers EVs and plug-ins and excludes conventional hybrids. The government is offering the exemption on 377 models, according to the state-controlled Xinhua news service.
China also is offering sales incentives worth as much as 35,000 yuan ($5,600) for plug-ins, 60,000 yuan ($9,600) for EVs and 500,000 yuan ($80,000) for electric buses. The discounts apply only to vehicles built in China.
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