Latest in Gear

Image credit:

Tesla wins a tax exemption in China to offset trade-war tariffs (updated)

The company also increased prices of the base Model X and Model 3 there.
Kris Holt, @krisholt
August 30, 2019
Share
Tweet
Share

Sponsored Links

ASSOCIATED PRESS

The regulatory body in charge of cars in China has announced several Tesla vehicles will be exempt from its purchase tax, which should help offset an upcoming tariff. The Ministry of Industry and Information Technology granted exemptions for more than a dozen Model 3, Model S and Model X models.

Earlier this month, China said it would reinstate some car tariffs it paused in April, including a 25 percent levy on vehicles from the US and a five percent tariff on auto parts. They're set to come into force December 15th as part of a wave of tariffs China announced in response to the latest US round of levies on imports from the Asian superpower. Tesla and other carmakers face total tariffs of as much as 50 percent on vehicle imports in China.

The company also raised prices on the base Model X in the country Friday, from 790,900 to 809,900 yuan (up from $110,512 to $113,167), and the Model 3 from 429,900 to 439,900 yuan ($60,069 to $61,467). It may increase prices on its cars again when the tariffs come into force. Meanwhile, Tesla is building a factory in Shanghai, and CEO Elon Musk visited the country this week.

Update 8/30/2019 11:50 AM ET: Updated to clarify the exemption is for the purchase tax, not the tariffs, and to note the Tesla price changes in China.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

The redesigned Tesla Model S interior swaps in a steering yoke

The redesigned Tesla Model S interior swaps in a steering yoke

View
NASA's asteroid-sampling OSIRIS-REx probe will head back to Earth in May

NASA's asteroid-sampling OSIRIS-REx probe will head back to Earth in May

View
Discord bans Reddit’s WallStreetBets for hate speech as scrutiny intensifies

Discord bans Reddit’s WallStreetBets for hate speech as scrutiny intensifies

View
Amazon’s motorized Echo Show 10 goes on sale February 25th

Amazon’s motorized Echo Show 10 goes on sale February 25th

View
iOS 14.4 rolls out with Bluetooth audio monitoring

iOS 14.4 rolls out with Bluetooth audio monitoring

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr