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China Finalizes Sales Quotas for EVs, Plug-in Hybrids
China’s central government has finalized sales quotas for “new-energy” vehicles (NEVs) that will take effect in 2019, a year later than originally proposed.
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China’s central government has finalized sales quotas for “new-energy” vehicles (NEVs) that will take effect in 2019, a year later than originally proposed.
Carmakers can either sell a sufficient number of electric or plug-in hybrid cars to reach the required NEV credit score or buy credits from other producers to meet the requirement. Producers must achieve a score of at least 10% in 2019 and 12% in 2020, according to the Ministry of Industry and Information Technology.
The new schedule drops an initial goal for 8% sales of new-energy vehicles in 2018. Carmakers called that deadline unrealistic. The quotas apply to any carmaker that makes or imports more than 30,000 conventionally powered vehicles per year.
China has pledged to cap its carbon emissions by 2030, a target that will require a high ratio of non-petroleum-fueled vehicles. The country already has 200 million cars on the road, and sales have been averaging double-digit growth.
Earlier this month the government said it might impose an eventual ban conventional powertrains.
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