China Extends Tax Breaks for New-Energy Vehicles Until 2027

(Bloomberg) — China extended tax breaks for consumers buying clean cars through 2027, estimated to be worth 520 billion yuan ($72.3 billion) in the coming four years, in an effort to bolster its flagging electric-vehicle (EV) industry.

The move, announced at a briefing in Beijing on Wednesday, is the latest in a series of steps to lift sales and production in the world’s biggest EV market.