China weighs extending EV tax break beyond 2023

Beijing aims to create self-sufficient auto industry that helps economy grow

20230301N BYD

China seeks to support the growth of the electric vehicle industry through tax measures. (Photo by Takashi Kawakami)

SHUNSUKE TABETA, Nikkei staff writer

BEIJING -- China will consider extending a tax break on the purchase of electric vehicles past the end of 2023, an official in charge of automobile policy said Wednesday, in a move aimed at supporting economic growth.

Beijing will discuss continuing its tax exemption for "the acquisition of new energy vehicles as soon as possible," said Xin Guobin, vice minister of industry and information technology.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.