China will continue the exemption of new energy vehicles (NEVs) from purchase taxes and explore ways to “improve” the policy framework for such vehicles, according to financial media outlet Caixin’s report of a cabinet meeting on June 4. The central government also stated its intention to facilitate the development of a high-quality charging infrastructure network for the public, aiming to stabilize the market and boost consumer demand, although no further details were provided. Beijing has committed to extending the tax exemption on electric vehicle (EV) purchases until the end of 2023, a policy that has been in effect since late 2014. Official figures show that China’s sales of NEVs, including all-electrics and plug-in hybrids, increased 43% year-on-year to 2.1 million units from January to April, a drop from the full-year growth rate of 96.3% in 2022. [Caixin, in Chinese]
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