Beijing began exempting motorists from paying the EV purchase levy in 2014 and planned to phase out the incentive by the end of 2022. Photo: Xinhua
Beijing began exempting motorists from paying the EV purchase levy in 2014 and planned to phase out the incentive by the end of 2022. Photo: Xinhua

Electric cars: Beijing extends exemption from 5 per cent purchase tax to end of 2023 in boost for sector

  • The exemption from a tax levied on electric vehicle purchases will be extended until 2024, Beijing announced
  • In the first seven months of this year, the exemption saved Chinese EV buyers 40.7 billion yuan in tax payments

Beijing began exempting motorists from paying the EV purchase levy in 2014 and planned to phase out the incentive by the end of 2022. Photo: Xinhua
Beijing began exempting motorists from paying the EV purchase levy in 2014 and planned to phase out the incentive by the end of 2022. Photo: Xinhua
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