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Beginning January 1, 2027, the policy that halves vehicle and vessel tax for fuel-efficient vehicles, along with tax exemptions for pure electric commercial vehicles, plug-in hybrid (including extended-range) vehicles, and fuel cell commercial vehicles, will be discontinued. This signifies the end of the 15-year preferential vehicle and vessel tax policy for new energy vehicles. Earlier this year, China shifted its new energy vehicle purchase tax policy from a "full exemption" to a "50% reduction," with a cap on the exemption amount. In light of these adjustments to vehicle and vessel tax, industry insiders are of the view that as tax incentives for new energy vehicles are gradually phased out, the industry will transition into a new, market-driven phase.
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