More than 90 percent of existing new-energy vehicle (NEV) models will continue to enjoy the purchase tax exemption policy under the new technical requirements released on Monday by Chinese ministries.
The requirements of existing NEV technical indicators are being appropriately raised, from the endurance mileage to the quality of power battery system. The driving range of pure electric passenger cars should not be less than 200 kilometers and the maximum speed of pure electric passenger cars in 30 minutes should not be less than 100 kilometers per hour, according to a statement published by the Ministry of Industry and Information Technology (MIIT) on Monday.
For plug-in hybrid passenger vehicles, the driving range powered by electricity should not be less than 43 kilometers, and the fuel consumption rate is lowered according to weight of the vehicles, read the statement.
From June 1, 2024, models that do not meet the new technical requirements released on Monday will be withdrawn from the tax reduction catalogue, the MIIT said on Monday, while noting that over 90 percent of existing NEV models meet the new technical standards based on the condition of the first half of 2023.
As said in the statement, NEV models that were included in the lists of purchase tax exemption that are still effective before December 31, 2023 will automatically continue to enjoy tax breaks for purchase, but have to hand in relevant certification documents according to the new technical requirements.
NEV models for passenger use that are currently exempted from vehicle purchase tax included Mercedes-Maybach EQS 680, Hongqi EH7, BMW i3, AION Y, Chery Sterra ET, XPeng P5 and Tesla Model Y, according to a list released on November 20 by the MIIT. This is the 71th batch of NEV models that can enjoy the purchase tax exemption policy released so far.
In previous lists released, BYD Yuan Pro, Neta Aya of Hozon Auto, Zeekr 001 FR and other NEV models were included, according to statements published on the website of MIIT.
