China Slashes Taxes On Electric Cars




It seems that China is entering a higher gear for New Energy Vehicles (NEV) – all-electric and plug-in hybrids.

The nation’s latest incentive is exemption from tax for new energy cars and ships.

“Cars exempted include pure electric commercial cars, plug-in hybrid vehicles and fuel-cell commercial cars, according to a joint statement by the Ministry of Finance, State Administration of Taxation and the Ministry of Industry and Information Technology.

In addition, vehicle and vessel tax will be halved for users of energy-saving cars and ships, said the statement.”

In the first three months of this year, production of NEVs increased in China threefold to 25,400.

If plug-in cars are the future and China achieves such levels, then many new Chinese companies will get a chance to go global.

“The Ministry of Commerce also announced earlier this year that China will continue to encourage the construction of charging facilities in cities and implement tax exemptions and subsidies for car purchases.”

Source: Xinhua

Category: General


12 responses to "China Slashes Taxes On Electric Cars"
  1. Anon says:

    About time, carbon-heads.

  2. Mike777 says:

    I was going to say China has very good forward planning, then I saw “fuel-cell”.

  3. Speculawyer says:

    Gotta clean up that beyond filthy air in their cities.

    1. ffbj says:

      It varies between filthy and poisonous, certainly detrimental to life span, and a contributor to various diseases of the lung.

      1. Mike777 says:

        We can all live in this dream world if we just pass TPP.

  4. Lensman says:

    It’s very confusing to use the term “NEV”, in the context of discussion of electric cars, to mean something other than Neighborhood Electric Vehicles, a long-established term.

    Those who translate articles from Chinese to English may use the term “new energy vehicle”, but to everybody else the proper term is Alternative Energy Vehicle, or AEV.

    1. Speculawyer says:

      And to make it even worse, the company that was trying to make electric Saab cars was called NEV. But I think they bankrupt by now.

      1. Mutwin Kraus says:

        They are actually called “NEVS” (National Electric Vehicle Sweden). But close enough to help with the confusion.

    2. Mikael says:

      It’s not confusing at all. NEV is and will be New Energy Vehicle.
      Just because you locally had some kind of expression doesn’t mean it will stand on a global market.

      It’s better that you learn to write golf cart or electric quadricycle.

      And even more importantly don’t call chinese EVs “neighborhood electric vehicles” since it’s not an applicable label since it’s only an US classification not relevant to any other country.

  5. Josh says:

    It says commercial vehicles. Does this mean truck and busses?

    Or do regular passenger cars no longer pay taxes?

  6. Just_Chris says:

    I really struggle with the comments on the Chinese focused articles.

    Especially the holier than thou comments relating to pollution. We, the developed world, have systematically exported every filthy heavy industry you could imagine to East Asia, we have reaped the benefits of unsustainably cheap goods and repatriated the funds via our stock markets. Too then look down our noses at them seems somewhat hipicritical, especially as they try to pull them selves out of the hole that we helped them dig. China isn’t perfect and could move faster but really they are just as bad (or good) as the rest of us.

  7. kdawg says:

    Is this just for domestic cars, or does it apply to imports too?