China has delayed a mandatory carbon trading scheme for its auto industry aimed at boosting the production of battery cars after pressure from automakers who said they needed more time to comply. The widely expected set of new regulations were issued on Thursday by China’s Ministry of Industry and Information Technology, following circulation of a draft earlier this year, the Financial Times reports. The scheme would see China charge carmakers carbon credits for every combustion engine car they produce in the country, and allow them to earn credits by producing new energy vehicles (NEVs). Carmakers will have to fulfil a steadily growing quota of credits, starting at 10% in 2019 and 12% in 2020, that roughly corresponds to the ratio of NEVs to combustion engine cars they produce. They will gain credits according to the number and specifications of NEVs they produce. Large, long-range NEVs will receive up to five credits, while short-range NEVs and hybrids will gain two.
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