China electric car mandate inspired by California’s program
According to reports, the electric-car sales system which is being adopted by China is similar to the one applicable in California. China’s electric car mandate seems like the one inspired by California’s program, and has taken shape after years of collaborative efforts between the Chinese and Californian officials.
Despite their respective liberal and authoritarian politics, both California and China have taken a top-down approach to bring about a shift in energy and transportation for combating climate change. California is aiming at 5 million emission-free vehicles on the road by 2030, while China wants 7 million electric vehicles on the road by 2025.
China is looking to launch a cap-and-trade system for lowering fuel consumption and reducing its dependence on oil imports. The system is devised on the lines of California’s cap-and-trade program for reducing emissions from factories, power plants, and fuel suppliers.
Automakers in the Asian economic and manufacturing powerhouse will have to manufacture electric cars in order to earn new-energy vehicle credits, as other subsidies will be gradually phased-out. Automakers can qualify for new-energy vehicle credits if they have at least 10 percent of vehicles sold in 2019. Automakers that are unable to meet the requirement will either have to pay penalty or will be able to buy credits from competitors.
About China’s efforts to promote electric-car sales, Yunshi Wang -- Director of the China Center for Energy and Transportation at the University of California at Davis -- said: “China has referenced and learned from California.”
Tesla CEO Elon Musk has said in a recent statement that the US-based electric vehicle manufacturer is considering the possibility of opening a new Gigafactory in Germany.
In a new email recently sent to Tesla employees, CEO Elon Musk has given the latest status update with regard to the automaker’s production of its Model 3 electric car.
A new report by London-based research team at Bloomberg New Energy Finance (BNEF) has asserted that the cost of electric cars will probably be lower than that of petrol/diesel cars by the year 2025.
According to a confirmation by Tesla CEO Elon Musk, the first Dual Motor Performance version of the Model 3 electric car was recently rolled off the automaker’s new assembly line in Fremont.
The Republican Party’s presumptive presidential nominee Donald Trump on Friday denounced violent protesters outside his rally in California the previous night as “thugs” and warned that his supporters could be far tougher if they wanted to be.
In a recent warning, China’s BYD Co Ltd has said that it expects a year-on-year plunge of up to 90 percent in its net profit for the 2018 first quarter.