0

China waives sales tax on locally made EVs, fuel cell cars

January 9, 2012 by Tycho de Feijter

Changan EV concept

China will waive sales taxes on electric and fuel cell cars made domestically by firms like SAIC Motor and BYD, the finance ministry said on Dec 31, in its latest initiative to shore up the country’s fledgling green car market.

A total of 49 domestically made models, including the Sail electric car developed by SAIC’s car venture with General Motors and two electric cars that will be made at Volkswagen’s two Chinese car ventures, will be exempted from sales taxes, the ministry said in a statement on its website (www.mof.gov.cn). Read more »