By September 28, 2017 0 Comments Read More →

New energy vehicle sales in China to hit 10 per cent by 2019: Gov’t

New energy vehicle

The government of China is looking for new energy vehicle sales to reach 10 per cent by 2019. China.org photo.

New energy vehicles sales expected to hit 12 per cent by 2020 in China

Backing away from its original plan to see new energy vehicle (NEV) sales reach 8 per cent by next year, the Chinese government has decreed that by 2019, electric plug-in and hybrid vehicles account for one-tenth of annual car sales.

By 2020, that level will rise to 12 per cent.

energy eastThe quotas are part of an initiative by the Chinese government to develop its own NEV market.  The long-term goal is to ban the production and sale of vehicles that are powered by traditional fuels.

As part of the new rules, automakers will be given credits for new energy vehicles that can be transferred or traded.  The credits will then be used to determine if the companies met the quotas.

“We welcome the Chinese auto industry’s shift towards greater adoption of NEVs and will comply with relevant regulations presented by authorities,” Ford Motor Co said in a statement.

Ford competitor General Motors said it will “strive to comply with the NEV mandatory requirements,” adding “continued joint efforts by the government and companies are essential to build broad-based consumer acceptance for NEVs”.

In a statement, the US-based automaker assured the Chinese government that “GM has sufficient capacity to manufacture NEVs in China.”

Reuters reports that Honda says it will launch an electric battery-powered car in China in 2018 and will “try to expand our lineup of new energy vehicles” to meet the quotas.

The quotas for new energy vehicles come at a time when the government of China is eager to fight oppressive air pollution as well as close a competitive gap between its newer domestic automakers and established global rivals.

By 2025, the government says it would like to see at electric or hybrid vehicles to make up at least one-fifth of the auto sales in China.

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