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BUSINESS & TECH

China Mulls Extension to New-Energy Vehicle Tax Rebate

The tax waiver, rolled out in 2014 along with other state subsidies, have helped make China the world’s largest electric vehicle market with more than 500, 000 units sold last year, almost half of global output. Photo: Visual China
The tax waiver, rolled out in 2014 along with other state subsidies, have helped make China the world’s largest electric vehicle market with more than 500, 000 units sold last year, almost half of global output. Photo: Visual China

China is planning to extend a tax rebate on the purchase of new-energy vehicles as part of efforts to boost the country’s fledgling green transport industry, several sources close to policymakers told Caixin. 

The government will continue to waive the current 10% purchase tax on new-energy vehicles — a category that includes hybrid cars as well as those powered exclusively by electric batteries or hydrogen fuel cells — until 2020, people with knowledge of the matter said. The current tax rebate policy is due to expire at the end of the year. 

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