China will exempt Tesla cars from purchase tax

China will exempt Tesla Inc's electric vehicles from purchase tax, the Ministry of Industry and Information Technology (MIIT) said on its website, sending the company's shares up more than 4% in early trading. China currently levies a 10% purchase tax on the sale of each vehicle. The move could reduce the cost of buying a Tesla car by up to 99,000 yuan ($13,957.82), according to a post on Tesla's social media WeChat account. Sixteen variants - all the Tesla models sold

from Reuters: Technology News https://ift.tt/2Li0tLD