CnEVPost Newsletter: China extends NEV purchase tax breaks for 4 years
China will exempt the purchase tax on NEVs with a purchase date between January 1, 2024, and December 31, 2025, but the tax exemption will not exceed RMB 30,000 yuan ($4,170) per vehicle.
China's cumulative tax exemptions for NEVs exceed RMB 200 billion by the end of 2022.
From now until 2027, pure electric vehicles will continue to enjoy purchase tax incentives, which will give NIO vehicles a significant advantage over fuel-powered luxury vehicles in terms of purchase costs, NIO said.
NIO was invited to attend a roundtable of Sino-German entrepreneurs and was the only smart electric vehicle company present.
The partnership, which went from discussion to agreement in just three weeks, demonstrates Abu Dhabi's commitment to investing in technology innovation and clean energy transformation, NIO said.
Right-hand drive is a large segment of the overall EV market, and XPeng is determined to build itself into a strong global EV company, the South China Morning Post quoted XPeng's president as saying.
This will start with the all-electric XPeng P7 sedan, with European deliveries set to begin this summer.
Li Auto aims to reach annual sales of 1.6 million vehicles and annual revenue of RMB 500 billion by 2025, its CEO said.
Delivery of 100 Yuan Plus units was made by BYD and three Mexican dealers.
The appeal of PHEVs or EREVs is clearly hard for Chinese EV companies to ignore, and the strong deliveries of the Li Auto further underscore this.
So far this year, China's retail sales of passenger NEVs were 2.74 million units, up 35 percent year-on-year.
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