China to rule out electric motorcycle purchase tax from Jul

Published: May 29, 2019 14:42

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This is expected to lower the cost to buyers by hundreds of yuan

SHANGHAI, May 29 (SMM) – Chinese consumers who purchase electric motorcycles and light electric motorcycles will be exempted from purchase taxes from July 1, according to the notice published by the Ministry of Finance on May 23.

The exemption of purchase taxes is expected to lower the cost to buyers by hundreds of yuan, and spur sales across the market.

This comes as a boost to market sentiment after the new national standards for electric motorcycles took effect earlier this year.

Electric motorcycle

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