China’s industry ministry said on Monday that tax discounts would continue to be granted on electric cars and other new energy vehicles.
The ministry said more than 90% of new energy vehicles would receive tax breaks on cars, trucks and buses via new technical requirements.
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The requirements for NEV eligibility for purchase tax exemptions from 2024 state that pure electric cars should have a driving range of at least 200 kilometres per charge.
And plug-in hybrid cars should be able to run at least 43 kilometres on electricity, the Ministry of Industry and Information Technology said in a statement.
The new regulations require a range attenuation rate of no higher than 35% under low temperatures for electric vehicles (EVs), and allows EVs capable of battery swapping to be eligible for the tax breaks.
In June, China unveiled a 520 billion yuan ($72.4 billion) package of tax breaks over four years for EVs and other green cars, its biggest yet for the industry as it seeks to boost auto sales growth.
- Reuters with additional editing by Jim Pollard
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