China Extends Tax Breaks for New Energy Vehicles Until 2027 (2)

China extended tax breaks for consumers buying clean cars through 2027, estimated to be worth 520 billion yuan ($72.3 billion) in the coming four years, in an effort to bolster its flagging electric-vehicle industry.

The move, announced at a briefing in Beijing on Wednesday, is the latest in a series of steps to lift sales and production in the world’s biggest EV market.

“Even though China has accomplished certain achievements in the new energy vehicle industry, the sector still has problems, including insufficient supply of critical technology and uneven development in the wider market,” said Xin Guobin, an official from …

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