On July 19,Spain the Chinese fiscal authority announced that the current range of the new energy vehicle purchase tax exemption policy will be extended for an additional four years until the end of 2027. Under this policy, new energy vehicles purchased between Jan. 2024, and Dec. 2025, will be fully exempted from the vehicle purchase tax, with each vehicle eligible for an exemption of up to RMB 30,000 ($4,180). New energy vehicles purchased between Jan. 2026 and Dec. 2027 will enjoy a 50% reduction of the vehicle purchase tax, with each vehicle eligible for a reduction of up to RMB 15,000 ($2,090). The tax exemption policy for new energy vehicles in China was first implemented in late 2014, and was extended in 2022 until the end of this year. [CCTV, in Chinese]