News Snapshot:
(Bloomberg) -- China is considered extending tax exemptions on electric-car purchases in a bid to boost spending on the auto sector by about 200 billion yen ($30 billion), state television reported, citing a State Council meeting chaired by Premier Li Keqiang. Supportive policies such as waiving taxes would aim to bolster demand for so-called new energy vehicles as well as stimulate the used-car market, according to the CCTV report. Government subsidies introduced in 2009 to help the EV industry are already being withdrawn and are due to be phased out completely next year. The exemption on the 10% EV-purchase tax...
