China has announced new-energy vehicle (NEV) targets that automakers must reach by the year 2019.
By 2019, automakers selling vehicles in the country will have to hit a threshold equivalent to 10 per cent of annual vehicle sales. This figure will then rise to 12 per cent by 2020, Reuters reports.
The country wants to eventually ban the sale of all new petrol and diesel vehicles but has come under pressure from carmakers to relax proposals for the aggressive introduction of all-electric and plug-in hybrid vehicles.
On the back of the government’s announcement, Ford said it will comply with the new rules.
“We welcome the Chinese auto industry's shift towards greater adoption of NEVs and will comply with relevant regulations presented by authorities.”
Similarly, General Motors said it would “strive to comply with the NEV mandatory requirements” and that “¬¬continued joint efforts by the government and companies are essential to build broad-based consumer acceptance for NEVs. GM has sufficient capacity to manufacture NEVs in China.”
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