China Is Set to Extend EV Tax Incentives as Sales Growth Slows
- State radio says exemption will be optimized to boost recovery
- Overall car sales slipped in the first four months of the year
Deliveries of EVs and plug-in hybrids in January through April rose about 36% from the same period of 2022.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is poised to extend incentives for electric-vehicle purchases as part of broader efforts to shake off a sluggish post-pandemic period.
The foundation for China’s economic recovery is not yet solid, the nation’s state radio reported late Friday, citing a State Council meeting chaired by Premier Li Qiang. China will therefore extend and optimize new-energy vehicle purchase tax exemptions, the report said, without giving more detail.