Mexican Media Brands
China May Halt EV Production Permits
China’s central government is likely to stop issuing permits to manufacture electric vehicles to avoid a capacity glut, sources tell Bloomberg News.
#hybrid
Share
China’s central government is likely to stop issuing permits to manufacture electric vehicles to avoid a capacity glut, sources tell Bloomberg News.
The government has issued 15 permits in the past 14 months through its National Development and Reform Commission. The most recent license went to Volkswagen AG’s joint venture with Anhui Jianghuai Automobile Group Corp.
Sales of plug-in hybrids and all-electric vehicles in China roughly quintupled to 507,000 units in 2016 since the government began supporting such vehicles in 2014, according to the China Assn. of Automobile Manufacturers.
At the same time, Bloomberg says Chinese companies have announced EV production plans totaling at least 98 billion yuan ($14.4 billion). The projects amount to a combined capacity to make 2.9 million vehicles per year.
Bloomberg notes that a freeze on additional permits could help such early EV makers as BYD Co. and BAIC Motor Corp. The move also will delay plans to jump into the EV market by startups led by entrepreneurs William Li (Nio) and Jia Yueting (LeEco).
RELATED CONTENT
-
Startup Readies Solar-Powered EV
Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.