Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Shanghai-Based Robot Developer Closes $46 Million Funding Round
Trending in China: Top Broadcast Exec Questions if Esports Are Really a Sport – Cue Heated Debate
Chinese Video Streamer iQiyi Targets U.S. Market With Animation on Nickelodeon
Chinese Majority Owned Lotus Announce EV Sports Car Venture With Renault’s Alpine
Chinese New Film Materials Maker HIUV on Track to Raise $227m in STAR Market IPO
Jordan Slam Dunks on Copycat Chinese Sportswear Brand Forcing Them to Change Their Name
Trending in China: Will ‘Chinese Baijiu’ Name Change Propel It To Global Dominance?
EHang Pioneers Self-Flying Drones for Tourists in Greater Bay Area City
TCL Squashes Rumours it is Withdrawing From North America Amid Empty Shelves
Chinese PE Fund Manager CICC Capital Secures $649m Second Close of Biomedicine Fund
WeRide Receives $310 Million as Beijing Opens Highways to Autonomous Car Tests
China’s Orchid Asia Leads Funding in Delivery Platform Fantuan, Edtech Startup Ivydad
U.S.-Listed Video Streamer Bilibili Files for Secondary Listing in Hong Kong, CNBC Reports
Dining Delivery Pay Dispute Leads Man to Set Himself on Fire
PayPal Becomes First Foreign Company to Offer Digital Payments in China
Tesla Rival Xpeng Motors Into New Year Fueled By New Credit Line
China’s Smartphone Shipments Fall Nearly 13% in December Amid Virus Flare-Up
Trending in China: Weibo Fails to See the ‘Funny Side’ of Sexual Harassment
Luxury Retailer Secoo Looks to Join Exodus of Chinese Companies from U.S. Stock Exchanges
Chinese Biotech Firm VISEN Raises $150m Led by Sequoia Capital China
China Exempts Tesla Model Y from Purchase Tax

By Ding Yi / Nov 30, 2020 05:59 PM / Business & Tech

Photo: VCG

Photo: VCG

China’s Ministry of Industry and Information Technology (MIIT) has placed Tesla’s Shanghai-made Model Y on a list that grants new energy vehicles exemption from purchase tax, signaling that the U.S. automaker should soon start selling the electric sports utility vehicle in China, a market which it sees as one of its most important revenue sources.

The approval comes three months after Tesla began accepting Chinese pre-orders for Model Y cars that are expected to be produced at the company’s Shanghai plant as early as next year.

The China-built Model Y comes in two versions: “long-range” and “performance”. The long-range version can travel 505 kilometers on a single charge and accelerate from 0 to 100 kph in 5.1 seconds, while the performance version can travel up to 480 kilometers and accelerate to 100 kph in only 3.7 seconds. The two versions are estimated to hit the market for 488,000 yuan ($70,600) and 535,000 yuan respectively, according to Tesla’s China website.

In January, Tesla caught the attention of global media with deliveries of its first Shanghai-assembled Model 3 electric sedans to Chinese buyers. In October, the domestically-built Model 3 claimed the title of China’s second most popular electric vehicle model with 12,143 cars sold in the country, according to the China Passenger Car Association (CPCA).

Contact reporter Ding Yi (

Related: Tesla to Manufacture Electric Car Chargers in China

Share this article
Open WeChat and scan the QR code