China Is Said to Extend Tax Rebate to Reach Clean-Fuel Auto Goal
- Current tax rebate policy due to expire at end of this year
- Incentives have helped China become world’s No. 1 EV market
China Still Largest Market for Clean Energy: BNEF
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China is set to extend a 10 percent tax rebate to buyers of new energy autos as manufacturers from BMW AG to Tesla Inc. vie for a greater share of the world’s biggest market for clean-fuel cars, according to people with knowledge of the plan.
The rebate was due to expire at the end of this year and will now run through at least 2020, said the people, who asked not to be identified discussing private information. The Ministry of Finance didn’t respond to a fax seeking comments.