General Motors reportedly is speeding up the rate of electric vehicle launches in China as policymakers there continue to promote EVs as an alternative to petrol-powered vehicles.
Matt Tsien, head of GM's China operations, told Reuters the automaker plans to launch 10 heavily electrified vehicle models in China from 2021 to the end of 2023, adding to the 10 it has already planned for 2016 to the end of 2020.
Go deeper with GlobalData
"Clearly, we have a strategy in place and there is an implementation in place to do that," Tsien told Reuters, referring to GM's new energy vehicles being developed and deployed by its two joint ventures in China.
The news agency noted strict new energy vehicle production quotas take effect in China next year.
Those quotas, to be made tougher gradually, have prompted many electric car deals and new launches of battery electric and plug in hybrid models as automakers in China race to ensure they keep up.
Reuters noted that, in April, China's state planner said it would remove foreign ownership caps for companies making fully electric and plug in hybrid vehicles in 2018, for makers of commercial vehicles in 2020, and the wider car market by 2022.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTsien told the news agency GM did not plan to take advantage of the easing of those ownership restrictions and planned to continue to work through its current joint ventures with local automakers to design and develop new energy vehicles for the local market.
