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Tesla China: Top gov’t meeting confirms NEV purchase tax exemption extension

Teslarati

Tesla China will likely see its momentum in the domestic EV market accelerate, thanks to the country’s NEV purchase tax exemption being renewed next year. Reports of the meeting were shared by Chinese state-owned broadcaster China Central Television ( CCTV). The update was related during a top government meeting.

Purchase 111
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IPSOS study finds private cars jump to 1st place as preferred means of transport in China; protection against infection

Green Car Congress

In a recent study by the market research institute Ipsos , two out of three respondents say that they prefer their own car to public transport—twice as many as before the COVID-19 outbreak. This could increase the desire to buy a car. After a deep plunge in February, the Chinese car market is currently showing signs of recovery.

China 268
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Volvo enters autonomous driving market via company acquisition

Teslarati

While many automakers now view autonomous driving products as the auto industry’s future, recent history has shown that it can be a highly volatile market. Now Volvo hopes to try its hand, buying out autonomous driving software and hardware supplier Zenseact. Zenseact is now a 100% subsidiary of Volvo Cars.

Volvo 98
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Tesla China announces 0% down ‘Financial Leasing’ with buy-out options

Teslarati

Tesla China has announced a new “Financial Leasing” plan for more affordability as it offers the option of 0% down to purchase a vehicle, as well as several other financing options. Widespread EV adoption is already occurring in China, and Tesla is among the most popular manufacturers in the market.

China 145
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Ansys releases pre-lockdown global survey on vehicle electrification

Green Car Congress

US respondents are split when it comes to when they’ll consider purchasing an EV. Nearly one-third of those surveyed already own an EV or plan to buy one within five years. Conversely, 39% of respondents would only buy an EV if gasoline-powered vehicles were no longer available.

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JATO: global vehicle sales fall by 39% in March; electrified vehicles up to 17.4% new registration market share in Europe

Green Car Congress

With the pandemic spreading across the globe, strict lockdowns in key markets, combined with consumer panic and economic uncertainty, have all contributed to the huge decrease in sales last month. And unlike previous recessions, we’re not just dealing with people’s fears or purchase delays. —Felipe Munoz, JATO’s global analyst.

Europe 261
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Toyota says it would rather buy credits than ‘waste’ money on EVs

Baua Electric

The CEO of Toyota isn’t mincing words, saying that he believes EVs will only make up 30% of the US new-vehicle market in 2030, half of the target the EPA sought last year. As the car industry’s largest hybrid pusher, Toyota says it is better positioned to just buy credits to close the EPA gap rather than “waste” money on BEVs, its CEO said.

Waste 52