China Amending Regulations to Encourage Hybrid Production
"The Chinese government is looking to ease regulations on more fuel-efficient hybrids. Under current rules, new-energy vehicles must account for 10% of automakers fleets in 2019. Hybrids, however, have been grouped with standard gasoline vehicles. Based on a complex point-based quota system, automakers must produce 20,000 EVs per million hybrids they manufacture. With the proposed regulations, automakers will need to produce only 6,000 EVs per million hybrids, while the requirement for gasoline vehicles will increase to 29,000 EVs. This development could give a boost to Toyota Motor and Honda Motors. Toyota, in particular, also sees the opportunity to supply hybrid technology to other automakers, and has already released thousands of hybrid-related patents in April. While hybrids accounted for 10% of 1.49 million vehicles Toyota sold in China last year, Toyota is looking to increase this share above 30% by 2020." - Vinay Piparsania
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Jul 16, 2019
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