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GM Expects to Meet China’s EV Sales Quotas Without Aid
General Motors Co. says it expect to meet China’s sales quotas for electrified vehicles by 2019 without being forced to buy credits from other EV makers.
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General Motors Co. says it expect to meet China’s sales quotas for electrified vehicles by 2019 without being forced to buy credits from other EV makers.
Matt Tsien, who heads GM China, tells reporters the company’s joint ventures with SAIC, FAW and Guangxi Automobile Group (formerly Wuling Motors) are gearing up to produce enough all-electric and plug-in hybrid models to meet the new government-mandated sales targets.
The quotas dictate that so-called new-energy vehicles account for at least 10% of a carmaker’s sales in China by 2019. The target rises to 12% of sales in 2020. Companies unable to reach the goals directly may buy credits from other carmakers that surpass the objectives.
Tsien notes that GM introduced its first all-electric model in China, the Baojun E100, in July.
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