Shoppers walk past a Tesla showroom in Shanghai. China is considering extending the tax exemption on electric car purchases to help boost the Covid-hit sector. Photo: Bloomberg
China considers extending EV tax exemption to put industry back on track after Covid-19 lockdown
- State Council expects the tax cuts to spur consumers to spend an extra US$29.8 billion on electric cars
- China’s car industry lost 1 million units in production because of pandemic-related curbs across the country
Shoppers walk past a Tesla showroom in Shanghai. China is considering extending the tax exemption on electric car purchases to help boost the Covid-hit sector. Photo: Bloomberg
