China sets green car deadline
CHINA has set a deadline of 2019 to impose tough new sales targets for electric plug-in and hybrids vehicles, slightly relaxing an earlier plan to launch the rules from next year.
Carmakers will need to amass credits for so-called new-energy vehicles equivalent to 10 per cent of annual sales by 2019, China’s industry ministry said in a statement on Thursday. That level would rise to 12 per cent for 2020. A single vehicle can generate multiple credits, meaning the proportion by NEVs by volume would likely be lower.
The targets closely mirror previously announced plans, but remove an explicit 8 per cent quota for 2018, in effect giving carmakers an extra year’s grace period.