The Chinese government has moved to further bolster sales of electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs) with the announcement of a ¥520 billion (£56.5bn) tax-relief package.
To be spread across four years, the new measures are aimed at encouraging new vehicle buyers in China to choose EVs and PHEVs over conventional internal combustion engine (ICE) models and used vehicles by offering an exception on purchase tax, which currently stands at 10%.
