China Extends Tax Breaks for New Energy Vehicles Until 2027
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2023-06-21 10:56
China extended tax breaks through 2027 for consumers buying clean cars to support the electric vehicle industry, which

China extended tax breaks through 2027 for consumers buying clean cars to support the electric vehicle industry, which is seeing a slowdown in domestic sales.

The support measures, with the aim of helping China become a world leader in car production, were announced at a briefing held in Beijing on Wednesday.

The move comes after a series of overtures by top officials in recent months who pledged support for the autos industry, particularly for EV adoption. The Ministry of Commerce launched a “Green Cars Going Rural” promotion on June 15, while the State Council and other agencies have called for stabilizing car consumption and building charging infrastructure.

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