BUZZ-Chinese EV stocks drop after new tax policy changes

Reuters10-10
BUZZ-Chinese EV stocks drop after new tax policy changes

** China's New Energy Vehicles Index .CSI399976 falls as much as 5.2%, on track for its biggest single-day loss since April 7, if current trend holds

** Regulators, including the Ministry of Industry and Information Technology, have revised electric vehicle tax exemption policies, with new technical standards set to take effect in 2026, potentially excluding models that fail to comply

** Shenzhen-listed shares of BYD 002594.SZ dip 1.6%, supplier of power battery systems CATL 300750.SZ loses 6.3%

** Changjiang Securities notes that a significant inventory clearance cycle is expected this year, with price cuts anticipated for non-compliant models

(Reporting by Hong Kong Newsroom)

((jiaxing.li@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment