China Gives Automakers More Time in World's Biggest EV Plan
- Automakers need to obtain 10% of credits from NEVs in 2019
- Companies with annual sales over 30,000 units need to comply
China Slows Switch to Electric Cars
China unveiled a comprehensive set of emission rules and delayed a credit-score program tied to the production of electric cars, giving automakers more time to prepare for the phasing out of fossil-fuel powered vehicles in the world’s largest auto market.
Under the so-called cap-and-trade policy, automakers must obtain a new-energy vehicle score -- which is linked to the production of various types of zero- and low-emission vehicles -- of at least 10 percent starting in 2019, rising to 12 percent in 2020, the Ministry of Industry and Information Technology said on its website. The rule applies to carmakers that manufacture or import more than 30,000 traditional vehicles annually, and those who fail to comply must buy credits or face fines.