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Imported EVs Won’t Benefit from China Incentives After All
Earlier this month China announced it will waive the purchase tax on electric cars purchased between Sept. 1 and the end of 2017.
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Earlier this month China announced it will waive the purchase tax on electric cars purchased between Sept. 1 and the end of 2017.
At the time, reports said the tax break would include EVs imported by BMW, Tesla and Volkswagen. But China's Industry and Information Technology ministry says that won't be the case, China Times reports.
The newspaper cites Vice Minister Su Bo, who explains the government policy is intended to foster growth among domestic makers of EVs and plug-in hybrids. In the emerging new-energy sector he says, "There's almost no space for local brands to grow" without government help.
Su also claims a shortage of government funds contributed to the decision to limit aid.
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