China is considering temporarily easing quotas designed to boost production of electric cars to help automakers badly bruised by the coronavirus pandemic to revive slumping sales, people familiar with the matter said.
"Policymakers acknowledged that automakers are strained to promote electric models when overall demand is slowing. They want the auto industry to recover steadily this year," one of the four people familiar with the matter said. China requires automakers doing business in the country to follow strict rules covering the production of so-called new energy vehicles as part of a quota system.
The change in policy is largely aimed at helping automakers focus on selling more profitable gasoline cars to improve their cash flow. But a small group of companies - mostly Chinese automakers such as BYD - are already making money from electric vehicle sales.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One dead, 127 hurt in China passenger train derailmentA passenger train derailed after striking debris from a landslide in central China on Monday, injuring a number of passengers and staff, officials ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Renault says China, South Korea plants restarting after COVID-19 shutdownPARIS: French automaker Renault said on Monday (Mar 30) it was resuming production at two factories in China and South Korea after they were shut ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China March factory activity unexpectedly expands, but outlook still grimBEIJING (REUTERS) - Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure as foreign demand slumps.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Asia shares rise as China factory data surprises; STI up 2.8%SYDNEY (REUTERS) - Asian share markets managed a tentative rally on Tuesday (March 31) after European and US equities stabilised, though buying for month and quarter-end book balancing likely flattered the gains.. Read more at straitstimes.com. Good
Source: The Straits Times - 🏆 8. / 63 Read more »
Asia shares edge up, China factories show flicker of lifeSYDNEY: Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
In China, diplomat Zhao Lijian rises as aggressive foreign policy takes rootBEIJING (REUTERS) - Diplomats returning from overseas postings don't usually receive special attention at China's Ministry of Foreign Affairs, a vast government bureaucracy with thousands of staff.. Read more at straitstimes.com. That admiration was fueled in part by a Twitter spat he had engaged in a month earlier with Ms Susan Rice, the national security adviser to former US President Barack Obama.Each accused the other of being 'ignorant' and a 'disgrace'. OK, famous for 'fight' with US. Explained.
Source: The Straits Times - 🏆 8. / 63 Read more »