German carmaker Volkswagen is eyeing the Chinese market to launch an electric vehicle. The news was confirmed by Jochem Heizmann, the Chief of Volkswagen China.
Heizmann said clarity about electric car quotas is forcing Volkswagen to take an aggressive launch schedule for electric cars. The Chief said, "The rules look like they are being revised."
Volkswagen China's head also said that the Chinese authorities have not yet clarified how a system of credits for New Energy Vehicles (NEVs) will be structured.
The Chinese have put forward suggestions forcing carmakers to meet sales targets for electric vehicles and plug-in hybrid vehicles. The target stands at 7 percent for the year 2020 and 15 percent by the year 2025.