China, the world's second largest new-energy vehicle market, is once again making the purchase of a new-energy vehicle much easier and lighter on your wallet.
The Ministry of Industry and Information Technology and the State Administration of Taxation recently announced that 330 models of new-energy vehicles can be purchased free of tax. Officials said the move would help boost the development of the new-energy vehicle industry, transform the transportation and energy sectors and help protect the environment.
This is the fourth time that the central government has rolled out a tax-free purchasing plan for new-energy vehicles, following moves in August, October and December.
The list of available new-energy vehicles include 295 pure electric models and 35 plug-in hybrids. Among the pure electric autos are 26 models of passenger cars, 191 buses, 77 special-purpose vehicles and one van; plug-in hybrid models include two passenger cars and 33 buses.
The list only consists of Chinese brands and joint-venture brands, such as BAIC, BYD Auto, Geely and Foton Motor.
In a separate measure to put more electric buses on city streets, the Ministry of Finance, Ministry of Industry and Information Technology and Ministry of Transport last week jointly issued an updated policy on its fuel subsidies for public buses. The ministries, which currently pay the cost of fuel for public buses in China's cities, will reduce its fuel subsidies every year through 2019.
The hope is that the move will force cities to replace its public buses that run on fuel with new-energy ones.
Ten cities and provinces will follow the new policy, including Beijing, Shanghai and Tianjin as well as Hebei, Shanxi, Jiangsu, Zhejiang, Shandong, Guangdong and Hainan provinces.
