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China is trying to encourage automakers to produce more electric vehicles
by implementing a national emissions trading program.
According to a draft prepared by the National Development and Reform Commission, manufacturers and importers of fossil-fueled vehicles in China are required to join the program
if they meet certain thresholds for production or sale.
At present, this threshold has not been announced, but the policy will benefit some new energy vehicle (NEV, including plug-in and hybrid) manufacturers, such as BYD and BAIC
.
Companies included in the plan can sell the reduced CO2 emissions, while those with high emissions will have to buy emission permits
.
Ye Shengji, deputy secretary-general of the China Association of Automobile Manufacturers, said that the carbon emission quota policy will promote the healthy development of
the new energy vehicle market.
China will issue carbon emission permits to about 8,000 companies, less than previously expected, and in the first quarter of 2017 it will prepare to launch its CO2 trading program in eight industries, and will determine carbon emission allowances
for automakers and dealers based on the proportion of NEVs they produce.
In the first half of 2016, China produced 177,000 NEVs, a year-on-year increase of 125%, but still accounted for less than 1.
4%
of the total.
China will have 5 million NEVs by 2020, but experts say charging station setup and battery quality remain major obstacles
.
From 2015 to 2020, China will invest 60 billion US dollars to support and stimulate the development of
new energy vehicle manufacturing.
China is trying to encourage automakers to produce more electric vehicles
by implementing a national emissions trading program.
According to a draft prepared by the National Development and Reform Commission, manufacturers and importers of fossil-fueled vehicles in China are required to join the program
if they meet certain thresholds for production or sale.
At present, this threshold has not been announced, but the policy will benefit some new energy vehicle (NEV, including plug-in and hybrid) manufacturers, such as BYD and BAIC
.
Companies included in the plan can sell the reduced CO2 emissions, while those with high emissions will have to buy emission permits
.
Ye Shengji, deputy secretary-general of the China Association of Automobile Manufacturers, said that the carbon emission quota policy will promote the healthy development of
the new energy vehicle market.
China will issue carbon emission permits to about 8,000 companies, less than previously expected, and in the first quarter of 2017 it will prepare to launch its CO2 trading program in eight industries, and will determine carbon emission allowances
for automakers and dealers based on the proportion of NEVs they produce.
In the first half of 2016, China produced 177,000 NEVs, a year-on-year increase of 125%, but still accounted for less than 1.
4%
of the total.
China will have 5 million NEVs by 2020, but experts say charging station setup and battery quality remain major obstacles
.
From 2015 to 2020, China will invest 60 billion US dollars to support and stimulate the development of
new energy vehicle manufacturing.
