China gives automakers more time in world’s biggest EV plan
China is giving automakers an extra year to prepare for phasing out fossil-fuel powered vehicles in the world’s largest auto market, reports Bloomberg. Carmakers will need to fulfil e-car quotas from 2019, one year later than originally planned, or face penalties. “China is sending a clear signal to large automakers that had been dragging their feet on EVs that it’s time to get on board,” said Colin McKerracher, a London-based analyst at Bloomberg New Energy Finance.
German automakers BMW AG and Volkswagen AG said they welcomed the introduction of the quotas. The companies had lobbied fiercely for a relaxation of China's e-car ambitions.
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Find background in the dossier The Energiewende and German carmakers.