China's Ministry of Finance, State Administration of Taxation, and Ministry of Industry and Information Technology have jointly issued Announcement No. 10 of 2023 on a vehicle purchase tax exemption for new energy passenger vehicles. This includes that new energy vehicles purchased from 1 January 2024 to 31 December 2025 are exempted from vehicle purchase tax, subject to a tax exemption cap of CNY 30,000 per vehicle. For new energy vehicles purchased from 1 January 2026 to 31 December 2027, …