China’s industry ministry said on Monday that tax discounts would continue to be granted on electric cars and other new energy vehicles.
The ministry said more than 90% of new energy vehicles would receive tax breaks on cars, trucks and buses via new technical requirements.
The requirements for NEV eligibility for purchase tax exemptions from 2024 state that pure electric cars should have a driving range of at least 200 kilometres per charge.
And plug-in hybrid cars should be able to run at least 43 kilometres on electricity, the Ministry of Industry and Information Technology said in a statement.
The new regulations require a range attenuation rate of no higher than 35% under low temperatures for electric vehicles (EVs), and allows EVs capable of battery swapping to be eligible for the tax breaks.
In June, China unveiled a 520 billion yuan ($72.4 billion) package of tax breaks over four years for EVs and other green cars, its biggest yet for the industry as it seeks to boost auto sales growth.
- Reuters with additional editing by Jim Pollard