China Moves Forward with Electric Cars
Posted on Sep 29, 2017 in Industry News | Comments Off on China Moves Forward with Electric Cars
China has announced its plan to require auto manufacturers to sell more alternative-fuel vehicles in the country. Companies that manufacture or import more than 30,000 vehicles a year will be required to obtain credits for “new energy vehicles” (including battery electric cars, plug-in hybrids, and hydrogen fuel-cell vehicles) that amount to 10% of annual sales by 2019. In 2020, that percentage will increase to 12%. Because of the way the new energy vehicle credits work, those percentages will likely equate to approximately 4-5% of actual vehicles sales. China had previously indicated that it would have an 8% requirement in 2018, but delayed implementation by a year, possibly due to concerns in the auto industry.
