China’s Ministry of Finance has confirmed that tax exemptions for New Energy Vehicles (NEVs) scheduled to expire at the end of this year have been extended through 2027. Consumers in China will now be able to take advantage of EV tax breaks amounting to over $4,000 per vehicle to start, which will dwindle down over the next four years.
China has used cumulative tax breaks to encourage EV adoption for over a decade now and has found great success. The country remains one of the fast growing EV markets and as of 2022, one in four vehicles sold was electrified.
These enticing tax exemptions have helped boost sales of local automakers in China such as BYD, NIO, and XPeng – helping further fund their research and develop to introduce new EV technologies and expand to new markets around the globe.
In fact, China’s EV tax options have been so successful, they’ve already seen a set expiry after three consecutive renewals between 2014 and 2022. The Chinese government previously offered a significant subsidy for NEV purchases, but that expired last year. This led EV automakers like Tesla to slash prices in China to maintain its market share.
Since then, sales in China have begun to slow, especially for local marques. However, the markets rallied behind today’s EV tax announcement as a push to revitalize growth in the industry and local economy.
China EV tax exemption extended another four years
According to a statement from China’s Ministry of Finance today, NEVs purchased in 2024 and 2025 will be exempt from purchase tax up to 30,000 yuan ($4,175) per vehicle. For the two years thereafter, the tax break will be halved to 15,000 yuan ($2,085) per vehicle.
To qualify as a New Energy Vehicle (NEV) in China, the purchase must be a battery electric vehicle (BEV), plug-in hybrid (PHEV), or hydrogen fuel cell vehicle. Today’s news is being celebrated by consumers as market analysts as it is sure to help spark economic growth in China.
The news may come as less of a surprise to some as the Chinese government pledged to help bolster local EV purchases earlier this month. At the end of 2022, cumulative EV tax breaks totaled 200 billion yuan ($27.9B) and according to China’s vice minister of finance Xu Hongcai, the 2023 EV tax exemption set to expire should eclipse 115 billion yuan ($16B).
Today’s announcement of a new 520 billion yuan package could end up being the largest tax break to date for the automotive industry. This is larger than the United States investment in federal EV tax credits, but still significantly smaller than the Biden administration’s Inflation Reduction Act as a whole.
Analysts expect the tax exemptions to help boost EV growth in China 15% in 2023 and potentially as much as 30% in 2024. This will be a market to keep an eye on.
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The current EV era is ripe with revered classic car designs and nameplates that are being reborn as battery-powered rides – and the success of cars the Renault 5 proves it can be a winning formula. Today, I’m suggesting another classic that deserves a modern electric update: the OG Ford Taurus.
It might seem old and dated now, but when the original Ford Taurus made its debut in 1985, it was so fresh, so different, so futuristic that it was included, almost unchanged, in Robocop’s sci-fi vision of a dystopian Detroit. Really.
I’d buy that for a dollar
From the movie poster for Robocop; MGM Studios.
The aerodynamic design of the Ford Taurus wasn’t just futuristic, it was successful – and, from 1992 through 1996, the OG Taurus was not just Ford’s best-selling car, but the best selling car in North America.
The sedan market is very different forty years on – so different, in fact, that Ford doesn’t actually sell any sedans in North America. With the exception of the 2-door ICE Mustang, the Blue Oval brand doesn’t even sell any cars, and operates almost entirely as a truck and SUV brand.
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Now, imagine Ford decides to get back into the sedan game. It’s 2025 now, and the Tesla Model 3 has proven that there’s enough demand for at least one successful electric sedan in the US. And, crucially, it seems like most of those buyers won’t be trading their Tesla back in for another one.
If there was ever a time to do it, that time is now – and Ford is perfectly positioned to fast-track a new-age Taurus.
The VW connection
Chinese-market Volkswagen ID.7 Vizzion; via VW.
Yes, I know that’s a Volkswagen – but hear me out. Ford and VW have a strong, existing relationship when it comes to EVs, having co-developed the MEB electric skateboard platform that underpins both the high-riding Ford Capri (itself a modern take on a classic Ford) and the Volkswagen ID.7 shown, above.
The ID.7 is an interesting piece, because it was always Volkswagen’s original intention to bring the car to the US, but slowing sedan demand and a dealer body that would rather sell Scout-branded SUVs and pickups than near/entry-luxe sedans killed the car’s chances before before the first one made it over. Now, it’s not coming to the US at all.
Aventon has officially announced its latest electric bicycle, the Pace 4, adding advanced smart bike technology and enhanced rider comfort to its popular line of urban-friendly e-bikes. The Pace 4 builds upon Aventon’s successful formula of accessibility and ease of use, now augmented with new connectivity and security features that make it harder to steal and easier to get back.
At the heart of the Pace 4 is Aventon’s latest innovation: the Aventon Control Unit (ACU). The ACU significantly upgrades the bike’s intelligence and security capabilities, bringing GPS tracking, geofencing, and remote locking to the Pace 4.
With the addition of the ACU, riders gain the ability to monitor their bike’s location in real-time, set virtual boundaries that trigger alerts if the bike leaves a specified area, and remotely lock the rear wheel, helping to improve security and peace of mind. A startup passcode can also be enabled to further improve theft deterrence, ensuring the bike can only be activated by authorized users.
The remote locking and passcode can help deter some theft, but the GPS tracking makes it easier to get the bike back if it ever does find itself in the wrong hands. The GPS feature and the 4G data communication both require a 4G data subscription, which is provided complimentary for one year at the time of purchase.
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Of course, there’s no such thing as a theft-proof bicycle, but these types of smart features help riders get closer to that goal. Plus, as bike thieves become more aware of which e-bikes include built-in GPS or other theft deterrence features, hopefully those models will become less attractive targets.
The Pace 4 doesn’t only upgrade its intelligence. Its performance and comfort have also received their own improvements.
Powered by a 500W rear hub motor rated for a peak output of 864 watts and 60 Nm of torque, the Pace 4 provides decent power for smooth urban commuting and enjoyable leisure rides. According to Aventon, riders can expect consistent and reliable performance across various terrains and riding conditions.
It may not match the 750W continuous-rated motors we often see in the North American market, which usually output peak power in the low four figures of watts, but it should still provide good power and climbing performance on moderate hills.
The Pace 4 features a 36V 20Ah battery, which Aventon states can deliver a range of up to 70 miles (112 km) when ridden in ECO mode. Of course, few people actually ride solely in the lowest power mode, and so the real-world range is likely to be somewhat lower – especially for riders who make ample use of the throttle. But with just over 720 Wh of battery capacity, the Pace 4 is likely still ideal for extended city commutes, recreational rides, and weekend exploring. And with the included torque sensor, the pedal assist is more responsive, giving riders more reason to let go of the throttle and enjoy the pedal assist performance.
The 27.5×2.1″ urban tires will be most at home on pavement but can likely still handle fairly smooth trails. Whether for daily commuting or leisurely outings, the bike seems outfitted for a variety of use cases.
The Pace 4 lacks traditional suspension but the bike does include a suspension seat post offering 2 inches (50mm) of travel. This feature absorbs shocks and vibrations from rough roads, preventing them from traveling up through the saddle and into the rider’s rear, enhancing the riding experience. Complementing this is an ergonomic handlebar design aimed at promoting a relaxed, upright riding posture, reducing rider fatigue on longer trips and increasing overall comfort.
Neither of these can replace true front or rear suspension, but they go a decent way toward adding more comfort to the ride.
Aventon has also emphasized accessibility with the Pace 4. It features a step-through frame design that makes getting on and off the bike much easier than swinging a leg over the rear, helping the bike cater to riders of all ages and abilities. Available in two frame sizes and three colors of Flint, Mica, and Blue Steel (grey, black, and light blue), the Pace 4 also offers a bit of variation to help riders dial in the size and style closer to their tastes.
The new Aventon Pace 4 sticks with the company’s recent drive to push the boundaries of e-bike technology, combining smart connectivity, enhanced security features, modest performance, and some nods toward comfort. I’d imagine the bike would appeal to a broad range of riders if it wasn’t for the price, which feels fairly high to me. Plus, the base model doesn’t include a rack, fenders, or other commuter staples that will only elevate the price further. That being said, the Pace 4 launches at a time when e-bike prices are expected to arrive across the board, either slightly for models built in various Asian countries or significantly for models built in China.
But ignoring the price (as hard as that may be), I do like what I see here. It’s hard to compare to Class 3 e-bikes with more powerful 48V systems, but this isn’t designed to compete with those models. It’s a more modest, easier-going model. But for its intended audience, it comes with some nice features that we don’t often see elsewhere.
I really hope features like built-in tracking become more common across the board, as they’re hugely valuable for riders.
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British Columbia got its first 400 kW DC fast charger last week at Canadian C-store chain On The Run, but that’s not the good part. As part of a limited time offer, these chargers are FREE!
The Canadian convenience store chain just took the wraps off its new, ABB-developed, 400 kW chargers earlier this month, but they’re already planning to bring the ultra-fast 400 kW dispensers to at least four more locations in BC this spring, and have them online just in time for the summer road trip season – something On The Run hopes its customers will appreciate.
“The A400 charger delivers an enhanced customer experience, with reliability and performance from a 32-inch screen to higher power charging sessions and power sharing,” reads the company’s official announcement, via LinkedIn. “Download the Journie Rewards app to start the charge – free for a limited time.”
On The Run’s new 400 kW ABB DC fast chargers are compatible with CCS and CHAdeMO plugs, and can accommodate Tesla and other NACS-equipped vehicles with an adapter. That said, the company seems to imply that Tesla drivers in particular will have a maximum charging speed of “just” 50 kW, which feel hilarious (given the current state of affairs between Tesla and the Canadian government), but probably isn’t.
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In addition to the ABB A400 400 kW units shown here, On The Run locations also employ the ABB Terra 184 dispensers rated at 180 kW. On The Run plans similar deployments at the four BC locations mentioned above, as well as two more each in Quebec and Ontario slated to go live towards the end of this year.
Electrek’s Take
Tesla’s controversial CEO Elon Musk once mocked 350 kW charging speed as being “for a child’s toy,” despite the fact that, nearly nine years later, his own cars and Superchargers can barely make it to 325 kW while others have sailed right on past. I made fun of that fact on the Quick Charge episode shown, above – and, while I do think it’s funny and relevant, the much more relevant piece of news here is that companies like BP Pulse, Revel, and Wallbox are actively deploying 400 kW solutions, today (while others hit the same mark as far back as 2017).