The People’s Republic is going to further exempt the 10 percent purchase tax on so-called new-energy vehicles (NEVs), as expected. The initiative was initially introduced in 2014 and got now government approval for three more years until end-2020.
The extension of tax rebates for NEVs is not an isolated programme but embedded in China’s EV policy, featuring among others an EV quota by 2019. As reported, the quota imposes new sales targets for electrified vehicles, forcing carmakers that manufacture more than 30,000 traditional vehicles annually to reach 10 and later 12 percent sales of NEVs.
Besides, not less than 107 Chinese cities have meanwhile established special license plates for EVs and PHEVs. By mid-2018, these plates are to be available all over China.
xinhuanet.com, reuters.com, autonews.gasgoo.com (license plates)
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