BMW i5 arrives with up to 601 hp and 582 km range

More

Skoda will offer six all-electric models by 2026

More

CUPRA Tavascan all-electric SUV coupé unveiled in Berlin

More

GMC HUMMER EV 3X trim revealed: 355 mile range for 3X Pickup and 314 miles for 3X SUV

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

China extends tax rebate for electric vehicles, hybrids until 2020

Chinese government will extend a tax rebate on purchase of new-energy vehicles (NEVs) until the end of 2020, in a continuation of policy support for the shift away from the internal combustion engine.

Ministry of Finance announced on Wednesday the tax exemption, which was set to expire at the end of this year, will now run until December 31, 2020 for electric, plug-in hybrid and fuel-cell vehicles.

The extension comes as automakers in China prepare to meet strict NEV quotas starting in 2019 that are sparking a flurry of electric car deals and new launches of electric and hybrid models.

Overseas auto makers have called on China to maintain financial support for the market, citing concerns that consumer demand is not sufficient to drive sales without State-backed incentive schemes.

The finance ministry said the extension would “increase support for innovation and development in new-energy vehicles,” an area where China is hoping to catch up – and even overtake – more established global rivals.

Local automakers like EV specialist BYD are now jostling with global names such as Ford and Nissan in the race to develop new vehicles specifically for the Chinese market.

Dec 29, 2017Blagojce Krivevski
2018 Kia Niro Plug-In Hybrid Priced At $28,840China registered 490,000 plug-ins year-to-date
You Might Also Like
 
XPeng Unveils Cutting Edge Features at 2020 Tech Day
 
Renault-Nissan will make electric cars in China with Dongfeng
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

December 29, 2017 Electric Car Newschina, tax rebate
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
Recent News
Mercedes-AMG e-scooter with 40km range unveiled
May 29, 2023
Stellantis Invests in Lyten’s Lithium-sulfur EV Battery Technology
May 28, 2023
Waymo and Uber Partner to Bring Waymo’s Autonomous Driving Technology to the Uber Platform
May 27, 2023
Hyundai Motor Group and LG Energy Solution to Establish 30 GWh Battery Cell Manufacturing JV in the US
May 26, 2023
FF 91 Successfully Passes FMVSS Crash Test Requirements, First Phase of Delivery Plan Set to Begin May 31st
May 26, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
Mercedes-AMG e-scooter with 40km range unveiled
May 29, 2023
Stellantis Invests in Lyten’s Lithium-sulfur EV Battery Technology
May 28, 2023
Waymo and Uber Partner to Bring Waymo’s Autonomous Driving Technology to the Uber Platform
May 27, 2023
Get in touch

Email: [email protected]

Get new stories by email:
Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.