China’s Ministry of Finance recently announced, in a statement on its website, that it would waive all sales taxes on domestically manufactured electric and fuel cell cars. The new policy, which will make a total of 49 domestically produced vehicles exempt from sales taxes, is the government’s latest effort to improve the local green-car market. These benefits, directed solely at local companies such as SAIC Motor or BYD, are further evidence of the government’s overwhelming efforts to transform China into a world-leading producer of clean vehicles.  These efforts, coupled with the subsidies available to buyers of locally produced EVs, are intended to spark demand for EVs which remains low in China.

Source: Reuters article

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