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Bloomberg
China will soon unveil a mandatory cap-and-trade credit programme for electric cars, starting the countdown for carmakers to be in compliance with stricter rules on emissions and fuel economy, according to the country’s state-backed auto association.
The policy may be announced as early as this week, Shi Jianhua, deputy secretary general of the China Association of Automobile Manufacturers, said at a briefing in Beijing. Shi didn’t provide a specific date.
Under draft rules released in September for public consultation, companies will be required to obtain a minimum new-energy vehicle credit score next year, derived from different weightings assigned to various types of zero- and low-emission vehicles. Companies that fail to meet the requirement face fines or have to buy credits from those that exceeded the minimum.