China exempts plug-in vehicles from annual taxes

Governments here in the States have stepped up by offering some significant incentives for purchasing green vehicles. Buyers across the country can get up to $7,500 off a plug-in vehicle, thousands back on hybrids and even deeper discounts in some states thanks to additional rebates. Though incentives here are strong, China is about to take this green vehicle incentive thing to another level.

In a draft of its 2012 regulations for alternative fuel vehicles, the Chinese government will exempt plug-in vehicles from annual taxes in starting in 2012, according to China Daily. Furthermore, China Daily says that conventional hybrids, while not exempt from annual taxes, will be eligible for a 50 percent reduction.

These new benefits are on top of some already huge subsidies. In June of 2010, China began offering a maximum subsidy of 60,000 yuan ($9,281 U.S. at the current exchange rate) to buyers of pure electric vehicles and 50,000 yuan ($7,634 U.S.) for plug-in hybrid purchases. Kind of makes you jealous, doesn't it?

[Source: China Daily]

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