On June 22, the Ministry of Industry and Information Technology (MIIT) of China announced a revision to the Administrative Measures on Passenger Car CAFC and NEV Parallel Credit (commonly known as ‘Double Credit’). This revision marks a substantial change of course in China’s long term strategy to reduce GHG emissions from automobile, and it benefits certain manufacturers at the cost of others.
TL;DR version: under “the Revision”, full hybrid vehicle (HV) will be given preferential treatment; battery electric vehicle (BEV) and plug-in hybrid vehicle (PHV) will generate considerably fewer credits based on range alone, while more advanced EV technology will be rewarded. Fuel-cell vehicle (FCV) will have very fast growth as China starts building up “the Hydrogen Economy”. Toyota (and its subsidiaries) will be the biggest beneficiary of “the Revision” due to its strong political influence in the making of this regulation.
TL;DR version: under “the Revision”, full hybrid vehicle (HV) will be given preferential treatment; battery electric vehicle (BEV) and plug-in hybrid vehicle (PHV) will generate considerably fewer credits based on range alone, while more advanced EV technology will be rewarded. Fuel-cell vehicle (FCV) will have very fast growth as China starts building up “the Hydrogen Economy”. Toyota (and its subsidiaries) will be the biggest beneficiary of “the Revision” due to its strong political influence in the making of this regulation.