China Adds Tesla Models S/X to Purchase Tax Exemption List
2022.10.11 08:15
China Adds Tesla (TSLA) Models S/X to Purchase Tax Exemption List
By Michael Elkins
China’s Ministry of Industry and Information Technology (MIIT) recently released its updated “Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax,” and it included Tesla’s (NASDAQ:) new Model S and Model X vehicles. The two flagship vehicles are now included in the “list of new energy vehicle models exempted from vehicle purchase tax” on the MIIT website.
The list includes two variants of both the Model S and Model X, indicating both the Long Range (LR) and Plaid variants should hit the Chinese market soon. However, the release did not include any proposed pricing for the electric vehicles, leaving the amount the tax exemption will equate to unknown, as it is a percentage of the purchase price.
The Chinese agency also announced that this purchase tax exemption would be extended to the end of 2023. It was set to expire at the end of 2022.
The addition of the two electric vehicles to China’s list of exempted vehicles comes one day after the first Model S Plaid was spotted at a Supercharger in China.
Shares of TSLA are down 0.80% in pre-market trading on Tuesday.
