China extended tax breaks through 2027 for consumers buying clean cars to support the electric vehicle industry, which is seeing a slowdown in domestic sales.
The support measures, with the aim of helping China become a world leader in car production, were announced at a briefing held in Beijing on Wednesday.
The move comes after a series of overtures by top officials in recent months who pledged support for the autos industry, particularly for EV adoption. The Ministry of Commerce launched a “Green Cars Going Rural” promotion on June 15, while the State Council and other agencies have called for stabilizing car consumption and building charging infrastructure.
