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Tesla surges after China says it will exempt several of the company’s models from its purchase tax

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China's Ministry of Industry and Information said Tesla's Model X, Model S, and Model 3 would be exempt from an auto purchase tax.

Shares of Tesla surged more than 4% in early-morning trading on Friday after China's automotive regulator said it planned to exclude several Tesla models from a purchase tax. China's Ministry of Industry and Information released the statement on Friday, and the list includes Tesla's Model 3, Model S, and Model X vehicles. Tesla recently raised prices in China after the yuan began trading at its lowest level in more than decade, according to Reuters. Watch Tesla trade live.

Shares of Tesla surged more than 4% in early-morning trading on Friday after China's automotive regulator said it planned to exclude several Tesla models from a purchase tax. China's Ministry of Industry and Information released the statement on Friday, and the list includes Tesla's Model 3, Model S, and Model X vehicles. Tesla recently raised prices in China after the yuan began trading at its lowest level in more than decade, according to Reuters. Watch Tesla trade live.

 

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Lol What a scam.

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