China Considers Adding More Electric Vehicle Incentives

APR 14 2014 BY ERIC LOVEDAY 13

Model S in China

Model S in China

In an effort to boost plug-in vehicle sales in China, the nation’s government is now considering additional incentives.

BYD Qin

BYD Qin

China’s Vice Premier Ma Kai hopes to spur EV sales by exempting electric vehicle buyers from having to pay purchase taxes.

This would add to China’s already generous EV purchase incentive, which amounts to nearly $10,000 back on the purchase of qualified BEVs.

As Bloomberg reports:

“The government may cut or waive the 10 percent auto-purchase tax for new-energy vehicles, according to comments from Vice Premier Ma Kai posted on the Chinaev.org website.”

Harry Chen, a Shenzhen-based analyst with Guotai Junan Securities, told Bloomberg the following:

“New-energy vehicles are important for China’s energy dependency, so the government will devote more resources into promoting them.  Reducing or exempting the purchase tax will certainly give buyers more reason to buy such cars as it’s quite a lot of money.”

Sales of plug-in vehicles are starting to take off in China, especially true since both Shanghai and Beijing decided to allow BYD to sell its EVs within those two cities.

If purchase taxes are eliminated, this will certainly stoke sales up even more.

Source: Bloomberg

Categories: General

Tags:

Leave a Reply

13 Comments on "China Considers Adding More Electric Vehicle Incentives"

newest oldest most voted

That second picture, Eric? Is that the incentive? 🙂

Given how many pictures of the Qin are posted on insideevs you would think their sale footprint is about as big as LEAF.

And pics from the same auto show too.

QIN did sell very well – 6000 ccars in first few weeks of 2014.

If any of the major automakers made a clone of the Qin with the same specs and price, I’d buy it tomorrow.

The prettiest thing in all of the photos is that locomotive!

I love steam locomotives as much as the next guy, but are you sure the isn’t something prettier in the second picture?

Oh yeah! The BYD Qin?

Haha! +1

Yes she has a special charm and an appealing posture with a nice fitting dress. I like her Roomy look a lot. It really is chinese seduction at its best.

That locomotive is nice too. Very well preserved.

I don’t think the Tesla qualifies for the incentives because of protectionist reasons.

We’ll just have to wait and see but this time around I think Tesla will be included.
Then you have the purchase tax removed for everyone but only local brands get that big extra incentive.

On what basis are you saying that “Tesla will be included?” I thought the Chinese government said that only domestic cars qualify. What do you know that the Chinese government doesn’t know?