Possible_Terrorism_Warfare – Page 1290 – I wish I had more to offer

TuSimple adds another $120 million to its self-driving trucks war chest

Self-driving truck startup TuSimple has added another $120 million to a Series D funding round led by Sina, operator of China’s biggest microblogging site Weibo, bringing the total haul to $215 million as it seeks to expand. The company, which launched in 2015 and has operations in China, San Diego and Tucson, Arizona, hit unicorn… Continue reading TuSimple adds another $120 million to its self-driving trucks war chest

Carmakers near CO2 cliff-edge in electrification race

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Renault boss Bolloré: “Electric car for 10,000 euros, there will be in five years”

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Daimler Trucks begins testing automated trucks on public roads

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Byton Set To Unveil Production M-Byte At Frankfurt

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Hot car death dad says new safety rules not enough

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Volkswagen exec reaffirms commitment to diesel: ‘Now it is absolutely clean’ – Teslarati

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Exclusive: In U-turn, Ford ditches plan to unify China sales system after partners push back

SHANGHAI/DETROIT (Reuters) – Ford Motor Co has scrapped a plan to create a unified national sales company for China that stoked mistrust of the automaker at its joint venture partners and contributed to a spectacular collapse in sales in the world’s biggest car market. FILE PHOTO: People walk by a Ford Escape SUV displayed during… Continue reading Exclusive: In U-turn, Ford ditches plan to unify China sales system after partners push back

Hyundai Motor union OKs wage deal without strike

SEOUL, Sept. 3 (Yonhap) — Hyundai Motor Co.’s union approved this year’s wage and collective bargaining agreement, avoiding a strike for the eighth consecutive year, the union said Tuesday. In a vote held Monday, 56 percent of 43,871 participating Hyundai workers cast a ballot for a revised wage and collective bargaining deal, the union said… Continue reading Hyundai Motor union OKs wage deal without strike

Tesla Model 3 Buyers In China Can Rejoice Thanks To Sales Tax Exemption

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Published on August 31st, 2019 |

by Steve Hanley

Tesla Model 3 Buyers In China Can Rejoice Thanks To Sales Tax Exemption

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August 31st, 2019 by Steve Hanley

No one knows what is going to happen with the “easy to win” tariff war initiated by America’s putative president over a year ago, least of all him. What we do know, however, is that China has agreed to grant all Tesla vehicles an exemption from the 10% purchase tax that all new car buyers normally pay.

According to Reuters, the Ministry of Industry and Information Technology announced the exemption on August 30. The change marks an important concession amidst trade tensions with the United States. On average, the exemption will lower the cost of buying a new Tesla by 99,000 yuan, or about $13,957, according to a post on Tesla’s social media WeChat account.

All 16 variants of the Tesla Model S, Model X, and Model 3 offered for sale to Chinese customers are listed in a document detailing the exemption on the MIIT website. No reason was given for the decision to exclude the cars from the tax, but it does come at a time when Tesla is expanding in China by building a new factory in the Free Trade Zone outside Shanghai.

Leading up to the start of production at that factory, Elon Musk has visited China several times. He has publicly praised China in the midst of tensions with the United States and thanked the Shanghai and national governments for their support.

Musk has met with senior leaders, including China’s Vice President Wang Qishan and the transportation minister. He has called national leaders “very thoughtful” and alluded to China’s “amazing” progress in sustainable energy, transport, and space exploration. “This year they did more orbital launches than the USA for the first time,” Musk tweeted last December.

Craig Irwin, an analyst for Roth Capital, tells Reuters, “It is pretty clear Tesla is committed to China, with the investment in the Shanghai Gigafactory. Those relationships probably helped Tesla lobby for a successful exemption from the tax. Now we need to closely watch the build out of the Shanghai Gigafactory and Model 3 volume ramp in China.”

While Tesla does not disclose sales by country, consulting firm LMC Automotive estimates the company sold 23,678 cars in China in the first seven months of this year, which is nearly double the number it sold in 2018.

Also on Friday, Tesla announced it is raising the price of the cars it sells in China by 2% to offset the weakening of the yuan in recent weeks. The long range dual motor Model 3 is now 439,900 yuan ($61,467), up from 429,900 yuan ($60,070) previously. But the net effect is that, after the purchase tax exemption, Tesla will cost a Chinese customer considerably less to buy this week than it did last week. Tesla stock was up 4% following the exemption announcement.

Tesla is clearly betting heavily on China, which only makes sense since its new car market is the largest in the world and its electric car market accounts for approximately half of global electric car sales. It’s true that sales are not quite as robust this year as they have been in previous years, but there will still be more than 22 million new cars sold in China this year, even in a down market, with perhaps 8% of those being plug-in car sales.

With its close ties to the national and local governments, Tesla should be well positioned to sell as many cars in China as it can manufacture. We’ll keep you informed via our regular China EV sales reports.

About the Author

Steve Hanley Steve writes about the interface between technology and sustainability from his home in Rhode Island and anywhere else the Singularity may lead him. His motto is, “Life is not measured by how many breaths we take but by the number of moments that take our breath away!” You can follow him on Google + and on Twitter.

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