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China's shock and bolt: $72 Billion tax breaks turbocharge Electric Vehicle market

China has announced an unprecedented tax break package of $72 billion aimed at propelling the growth of the electric vehicle (EV) industry, Reuters reported. The move comes as the country seeks to revitalize its economy and counter slower auto sales. The tax incentives have surpassed market expectations, leading to a surge in major automakers' shares. The government's emphasis on promoting new energy vehicles (NEVs) highlights China's commitment to sustainable transportation and p...
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