Government May Exempt EV Buyers From Purchase Taxes


News: The Chinese government may exempt electric car buyers from paying purchase taxes, according to Vice Premier Ma Kai, reports Bloomberg. The move is part of state measures to boost sales of electric vehicles (EVs) following the failure of past incentives. Ma added that the government may cut the 10% auto-purchase tax for new-energy vehicles and slow the reduction of government subsidies beyond 2015. The government could also use the proceeds from emissions surcharges for financing EVs, which is under review. It may also continue to pay fuel subsidies to public transport firms after they switch to hybrid buses.

This article is tagged to:
Sector: Autos
Geography: China

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