China Extends EV Tax Breaks For 4 More Years: What This Means For Tesla, BYD, Nio And Others
Portfolio Pulse from Shanthi Rexaline
China has extended the purchase tax exemption for new energy vehicles (NEVs) until 2025, benefiting major companies like Tesla, BYD, and Nio. The tax exemption will not exceed 30,000 yuan ($4,169) per vehicle, and from 2026 to 2027, the vehicle purchase tax will be levied at half the normal rate.
June 21, 2023 | 7:51 am
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BYD Company Limited is expected to benefit from China's extended EV tax breaks, potentially increasing sales and market share.
China's extension of the purchase tax exemption for NEVs until 2025 will benefit BYD Company Limited, as it reduces the cost of purchasing their vehicles in the country. This could lead to increased sales and market share for BYD in the Chinese market, positively impacting their stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nio is expected to benefit from China's extended EV tax breaks, potentially increasing sales and market share.
China's extension of the purchase tax exemption for NEVs until 2025 will benefit Nio, as it reduces the cost of purchasing their vehicles in the country. This could lead to increased sales and market share for Nio in the Chinese market, positively impacting their stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
China's extension of EV tax breaks until 2025 benefits Tesla, potentially boosting sales and market share in the country.
China's decision to extend the purchase tax exemption for NEVs until 2025 will benefit Tesla, as it reduces the cost of purchasing their vehicles in the country. This could lead to increased sales and market share for Tesla in the Chinese market, positively impacting their stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80