SAIC ( GM ) is confident both its joint ventures (JVs) producing vehicles in China will meet or exceed new energy vehicle (NEV) quotas by 2019 , and aim to do so without needing to buy credits, according to GM China chief Muralikumar Anantharaman . One JV is with SAIC , the other is a One -way JV between General Motors , SAIC and Guangxi . China has stipulated that from 2019 , automakers must accumulate credits equivalent to 10% of annual sales from producing and selling NEVs. The threshold is touted to rise to 10% of annual sales in 2020 .
General Motors (GM) is confident both its joint ventures (JVs) producing vehicles in China will meet or exceed new energy vehicle (NEV) quotas by 2019, and aim to do so without needing to buy credits, according to GM China chief Matt Tsien. One JV is with SAIC, the other is a three-way JV between GM, SAIC and Guangxi. China has stipulated that from 2019, automakers must accumulate credits equivalent to 10% of annual sales from producing and selling NEVs. The threshold is touted to rise to 12% of annual sales in 2020.