Elon Musk visits China and averts 10% tax on car sales
The exemption sends a signal that the Chinese vehicle market, the world’s biggest, is open to competition, AutoForesight says
Shanghai — Tesla won exemption from a 10% Chinese tax on automotive sales, sidestepping trade tensions with the US following CEO Elon Musk’s visit to the country.
The exemption, which typically is reserved for domestic makers of electric vehicles, affects all Tesla models sold in China, the nation’s industry ministry said Friday on its website. The electric-carmaker’s shares jumped as much as 4.8% shortly after the open of regular trading...