"at the end of June, the Ministry of Finance and the State Tax Administration jointly announced an extension to the vehicle sales tax exemption on NEVs until the end of 2020. The exemption from the 10% vehicle sales tax is expected to mitigate a substantial portion of the subsidy reduction."
"Evergrande, one of the China’slargest conglomerates, committed investment of RMB160 billion (US$23 billion) to build three manufacturing facilities for electric vehicles, batteries, and electric motors in Guangzhou, Guangdong province."
GXY Price at posting:
$1.31 Sentiment: Buy Disclosure: Held
