PMT patriot battery metals inc.
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China unveils $72 billion tax break for EVs, other green cars to...

  1. elchagie
    5,953 Posts.
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    31/08/23
    04:46
    Post #: 69649968

    • China unveils $72 billion tax break for EVs, other green cars to spur demand

      Summary
    • Companies
    • China to exempt NEV purchase tax in 2024-2025
    • Purchase tax exemption will be halved in 2026-2027
    • Auto shares rally after the announcement

    BEIJING/SHANGHAI, June 21 (Reuters) - China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

    Weakening sales growth in the world's biggest auto market has raised concern over China's economic growth and while financial support was widely expected after an earlier government pledge to promote the industry, shares in major automakers jumped after the details were released.

    https://x.com/joe31756/status/1696955837737255384?s=61&t=cboyr2P3ccGyTsZqtg1NFw


    PMT Price at posting: $1.29 Sentiment: Buy Disclosure: Held
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