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486 NEVs exempt from purchase tax
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A list of 486 new-energy vehicle models that are exempt from purchase tax to further accelerate the development of green cars in China was unveiled yesterday, by the Ministry of Industry and Information Technology.
“The list is to promote the transformation of China’s transportation and energy strategy, along with the development of new-energy vehicle industry,” the ministry said in a statement on the official website.
The list covers 417 electric vehicles, 68 plug-in hybrid vehicles and 1 fuel cell vehicle. The list includes new-energy vehicle models from BAIC Motor Co, BYD Co Ltd, SAIC Motor Co, Chery Automobile Co, Dongfeng Automobile and other companies.
The ministry released a statement in August 2014 to exempt green car buyers from purchase tax as part of the country’s measures to boost sales of new-energy vehicles.
From September 1, 2014 to December 31, 2017, car buyers of qualified electric vehicles, plug-in hybrid vehicles and fuel cell vehicles will not have to pay the vehicle purchase tax, according to the ministry.
China is the world’s largest market for new-energy vehicles. In the first seven months of this year, the country sold 251,000 new-energy vehicles, up 21.5 percent year on year. Of the total sales, 204,000 of them were electric vehicles and 47,000 were plug-in hybrid vehicles.
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