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April 10, 2020

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NEV charging network to expand

China is boosting construction of new energy vehicle charging facilities in tandem with the country’s incentives to bolster the automobile market, the Ministry of Finance said yesterday.

By the end of last year, more than 1.2 million charging poles had been built across the country, and the number of NEVs had reached 3.8 million, ministry official Sun Guangqi told reporters.

The central government has allocated 4.5 billion yuan (US$638 million) to boost the construction of charging infrastructure, Sun said.

It will work with related departments to optimize subsidy and reward policies on charging infrastructure and speed the construction process to create a supportive environment for NEV growth.

An earlier State Council executive meeting decided to extend subsidies and tax exemptions for NEV purchases by another two years. They had been set to expire at the end of this year.

The value-added tax on the sale of old vehicles by second-hand dealers will be cut to 0.5 percent of sales volume from May 1 to the end of 2023, the meeting decided.




 

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