China will exempt Tesla Inc's electric vehicles (EV) from purchase tax, the...
FILE PHOTO: A Tesla logo is seen on a wheel rim during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song
BEIJING - China will exempt Tesla Inc’s electric vehicles from purchase tax, the Ministry of Industry and Information Technology said on its website. China currently levies a 10% purchase tax on the sale of each vehicle. The move could reduce the cost of buying a Tesla car by up to 99,000 yuan , according to a post on Tesla’s social media WeChat account.Sixteen variants - all the Tesla models sold in the country - are listed on the document issued by MIIT, including Model S, X and 3. No reason was given for the decision to exclude the cars from the tax.
The plant is slated to have annual output capacity of 250,000 vehicles after production of the Model Y is added. Reporting by Yilei Sun, John Ruwitch and Beijing Monitoring Desk; editing by Jason Neely, Kirsten Donovan
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