Electric vehicles will be exempt from annual taxes starting from Jan 1 next year, according to a draft regulation by China's State Council.
In a move insiders see as groundwork for new energy vehicles and batteries, the chairman and largest shareholder of automaker Geely has personally invested in the Australian lithium compound company Galaxy Resources.
While May's 1.4 percent drop in light vehicle sales - the first fall in 27 months - might look discouraging, the market is not overly pessimistic as it sees the rationale behind the decline.
The growing number of car owners in China is proving to be a big attraction to the after-sales market in the almost two years since sales boomed.
China's annual economic expansion of 9.7 percent, rising property prices and a strengthening yuan have combined to create a new breed of big spenders.
Lotus Cars Ltd announced its official foray into China on Wednesday, seeing the huge potential from China's surging super sports-car market.
China's domestic carmakers now have a new option to ship their vehicles to overseas markets, after a cargo vessel capable of carrying 5,000 cars began operations.
Ford Motor Co broke ground on Thursday on a $500 million engine factory in Southwest China as the automaker seeks to expand in the world's largest market and boost global sales by 50 percent in four years.
BYD Co Ltd, the Chinese car maker said late Thursday that it had received formal approval from China's top securities regulator for an A-share listing on the Shenzhen market.
The State Council, or China's cabinet, on Wednesday began soliciting public opinions on a draft regulation for the implementation of the Vehicle and Vessel Tax Law, which will exempt electric cars, fuel-cell vehicles and hybrid vehicles from taxation.
Beijing Hyundai Motor started to recall 9,280 MoInca vehicles over defective engines on Wednesday, China's quality watchdog said.
Japanese automaker Mazda Motor and its Chinese joint venture Chang'an Ford Mazda will recall 94,874 Mazda3 vehicles starting Thursday over defective windshield wipers, China's consumer quality watchdog said on Wednesday.
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