Rearview mirror: Car industry's hot topics in 2017

China Daily | Updated: 2018-01-08 13:19
Workers assemble a car at Yudo New Energy Automobile, a large new energy auto manufacturer based in South China's Fujian province, on Dec 20, 2017. [Photo/Xinhua]

China Daily takes a look at the top headline-grabbing stories from the world's largest auto market last year

1. Duel-credit policy to tackle emissions

China issued a dual-credit policy in late September in an effort to cut gasoline fuel consumption and stimulate the development of new energy cars, including electric cars and plug-in hybrids. In 2019, automakers in China must gain credits for new energy cars equivalent to 10 percent of all its cars, with one vehicle generating multiple credits. The quota will rise to 12 percent in 2020. If they cannot meet the goal, they can either purchase credits from other carmakers or face a fine. The policy has prompted many international brands, including Volkswagen and Ford, to launch new joint ventures with local Chinese carmakers.

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