China will lead the world forward with electric cars after it imposed new-energy vehicle (NEV) quotas to begin in 2019. It’s the earliest implementation of such regulations around the globe. Although GM CEO Mary Barra initially approached the quota with skepticism, the automaker is confident it will meet or exceed the quota come its implementation in under two years.
Reuters reported on Monday that GM China chief Matt Tsien believes the automaker will meet the Chinese regulation without the need to purchase “credits” from other automakers. China’s upcoming rule has sent numerous automakers into a flurry as they work to meet the regulation in the world’s largest auto market.
“We intend to be able to produce enough products for those joint ventures to be able to meet the NEV quotas on their own,” Tsien said.
The quota calls for automakers doing business in China to produce and sell enough NEVs to accumulate credits. 2019’s threshold is 10 percent of annual sales and the level will rise to 12 percent of annual sales in 2020. GM did not go into specifics but said it will launch seven additional NEVs by 2020 in China. In the U.S., it plans for 20 battery-electric cars by 2023.