The Chinese government has extended the EV tax break policy to encourage further growth in the domestic EV market. Implemented in 2014, the policy was first extended in 2017 to 2020, then again to December 2022. The latest announcement has extended the policy for a third time with no specified end-date established on this occasion. The tax exemption covers EVs, plug-in hybrids, and fuel-cell vehicles, and removes the standard tax of around 10% of the vehicle price normally applied to other vehicle types.
China’s domestic EV market is now the largest in the world and is rapidly expanding. The first half of 2022 sales show an increase of…
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