GM’s NEV sales in China to meet quotas

Source:Global Times Published: 2017/11/13 22:38:40

General Motors' new-energy vehicle (NEV) sales in China will meet quotas by 2019 without the need to buy credits, Reuters reported on Monday, citing GM China President Matt Tsien.

The US-based company announced in September that it will launch at least 10 NEV models in the Chinese market by 2020, news website reported.

China has set quotas for NEVs that automakers must meet by 2019, prompting a number of "electric car deals and new launches of electric and hybrid models" as producers look to ensure they meet the target, said the report.

Demand for NEVs has been expanding rapidly. In 2016, 507,000 NEVs were sold in China, up 53 percent year-on-year, according to data released by the China Association of Automobile Manufacturers in January.

Posted in: COMPANIES

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