BEIJING (Reuters) - 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 .
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 .