Tesla Gets Exemption From China’s 10% Tax on Car Sales; Shares Gain
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Tesla Inc. won exemption from a 10% purchase tax on the vehicles it sells in China, scoring a significant break despite trade tensions between the country and the U.S.
The exemption, which typically is reserved for domestic makers of electric vehicles, affects all Tesla models sold in China, the nation’s industry ministry said Friday on its website. Tesla shares jumped as much as 4.8% shortly after the open of regular trading.