Mexican Media Brands
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.
#hybrid
Share
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.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.
-
Will Alcraft Take Off?
“British electric vehicle start-up Alcraft Motor Company has revealed details of its first car, the high-performance Alcraft GT.