China Extends Tax Cut For Electric Vehicles

FEB 21 2018 BY MARK KANE 13

BAIC E150EV

The Chinese government has confirmed the extension of the tax exemptions on purchase of New Energy Vehicles (all-electric or plug-in hybrids) that otherwise would have ended on December 31, 2017.

China

Incentives will be available for the next three years, through the end of 2020.

Lowering the effective price of NEVs by several thousand dollars is important to meet the requirements of 10% NEV credits in 2019.

Manufacturers were scrambling to delay the requirements from 2018 to 2019 and save the incentives, arguing that consumer demand will not be sufficient.

“The finance ministry said in a statement on Wednesday the tax exemption, which was set to expire at the end of this year, will run from Jan. 1, 2018 until Dec. 31, 2020 for electric, plug-in petrol-electric hybrid and fuel-cell powered vehicles.”

The second reason for the government bump is to help national brands to expand their NEVs business and be competitive with global brands in the future.

Source: Reuters

Categories: China

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13 Comments on "China Extends Tax Cut For Electric Vehicles"

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(⌐■_■) Trollnonymous
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(⌐■_■) Trollnonymous

They should’ve just made for only BEV.

ffbj
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ffbj

I think they should do a cash for clunkers, but you can only replace it with a BEV, or a Hybrid. So it’s a double whammy you take the most egregious offenders, at least of cars, off the road and replace it with an ev, hopefully or a phev.

Roy_H
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Roy_H

“The finance ministry said in a statement on Wednesday the tax exemption, which was set to expire at the end of this year, will run from Jan. 1, 2018 until Dec. 31, 2020 for electric, plug-in petrol-electric hybrid and fuel-cell powered vehicles.”

Is this quote from sometime last year? Sure reads that way.

I didn’t realize that China was promoting fuel cell cars too. Are they wasting taxpayer’s money on installing a H2 distribution infrastructure like so many other countries?

zzzzzzzzzz
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zzzzzzzzzz

You bet. Chinese minister of science and technology was supervising experimental fuel cell car development himself when he was younger.
https://en.wikipedia.org/wiki/Wan_Gang

Whatever, just ignore them, they are probably some ignorant apostates or Big Oil & Big Auto conspirators who don’t understand EV revolution very well and don’t appreciate True Light emanating on us by from St. Elon…
/s

Roy_H
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Roy_H

I am confused, I thought the announcement for NEV subsidies was a week ago:
https://www.bloomberg.com/news/articles/2018-02-13/china-raises-subsidies-to-reward-longer-traveling-electric-cars

Although the description doesn’t seem quite the same.

Threader
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Threader

good for China. the smog in the big Chinese metropolitans is unbearable.

dan
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dan

Most Chinese cities have excellent public transit and the ‘smog’ is not from automobile exhaust. The weather pattern in eastern China at certain times of the year creates atmospheric inversions that lock in the air, preventing the smoke from coal power plants from escaping.

The real effort underway in China to clean up the air is from deploying solar. China deployed more solar just in 2017 than the US or Europe since the beginning of time. Converting cars to EVs will be a drop in the bucket in the grand scheme of things.

windbourne
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windbourne
I wish that ppl would quit repeating chinese lies and actually THINK. First off, China did NOT put up more Solar than America/Europe COMBINED AND TOTAL. In 2017, they installed less than 50 GW. America ALONE has 50 GW of solar installed at end of 2017. EU (which is a subset of Europe) had 100 GW of solar at the end of 2016. Secondly, America ALONE, produced more electricity in 2017 from its 50 GW solar panels than China did with 125 GW even though China is closer to the equator. Why? Because America has much better sun than does CHina (china is MUCH cloudier; and the pollution is a killer), and the panels in America are much higher quality than CHina’s. Right now, America has a total efficiency of around 31% on its solar. China is less than 18%. And that is just America. That does not include what Europe generated. BUT, the real problem is that China continues to add MORE coal plants than they do AE. And as china flips from ICE cars to EV cars, where will the energy come from? Well, all of the AE that CAN be used, is. So, they ONLY slack in… Read more »
pjwood1
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pjwood1

The slower traffic goes, and the more dense the urban environment, the more suited it is to electric vehicles.

I don’t expect the functional reasons for adoption will get much coverage.

Ron M
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Ron M

Well China believes in renewable energy and Science are Orange Headed Leader only believes in Fake News much of it coming out of his …

windbourne
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windbourne

LOL.
China does not believe in AE anymore than Trump does. The fact that they continue to build out MORE coal plants than all of their AE put together speaks volumes.

As to trump, if you look carefully at his policies so far, they are actually mimicking China’s policy of local production. He is pushing coal, nat gas, etc, but so is China. He is so-so on wind/solar (he has not cut their subsidies).
So far, the ONLY area that Trump has not shown any real interest in, is nuclear, which is very sad. THis is the FASTEST and probably best way to get rid of coal.

Ron M
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Ron M

Nuclear ha look up the Facts in V.C. Summers Units 3&4 in South Carolina. Also look up Vogel Units 3 & 4 in Georgia and tell me how there doing
As far as China it has 4 times the population of the United States and has moved 3/4 of there population from abject poverty to the middle class the largest migration in human history. They now gave reached peak coal use since 2014. They lead the world in Hydro, Solar and Wind. China also canceled 100 proposed or under construction coal plants in 2015. China is also leading the world in EV and already planning on fazing out ICE.

windbourne
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windbourne

America needs to implement the same rules for CHinese cars, if not goods, that they are forcing on western companies.