SMM CoLiNi Summit: Chinese carmakers to have sufficient 'credits' from 2020

Published: Apr 12, 2018 17:39

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Chinese automakers are unlikely to be short of the “credits” needed to operate in China after 2020 as more new-energy vehicles are produced, according to chief analyst at RealLi Research, Mo Ke

SHANGHAI, Apr 12 (SMM) – Chinese automakers are unlikely to be short of the “credits” needed to operate in China after 2020 as more new-energy vehicles are produced, according to chief analyst at RealLi Research, Mo Ke.

Carmakers in China that sell over 30,000 units annually must earn “credits” equivalent to 10% of their output and imports. Those who fail to meet the target will have to either buy credits from other automakers or be fined. The ratio is expected to rise to 12% by 2020.

These credits can be earned by producing new-energy vehicles. More credits can be generated if these new-energy vehicles are more energy-efficient. Credits can also be earned by producing energy-saving, conventional fuel-based vehicles.

Mo expects China’s electric vehicles (EVs) to continue to grow rapidly in the next few years, with electric passenger cars up to 2.16 million units and overall EVs up to 2.5 million units by 2020, he told delegates at the SMM CoLiNi Summit in Quzhou, Zhejiang province on Thursday April 12.

He added that China’s credit programme is likely to drive automakers’ technology development and build local brands.

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