General Motors is ramping up its launch of electrified vehicles in China. The ramp-up is in response to China’s policymakers putting a stronger emphasis on alternative energy vehicles.
The U.S. automaker is already in the process of an aggressive electrification plan in China. The current plan, launched in 2016, calls for 10 new electrified products by 2020. Apparently GM feels that isn’t enough in today’s environment.
Matt Tsien, head of GM’s China operations, said in Shanghai on Tuesday GM China will launch an additional 10 “heavily electrified” products between 2021 and 2023. For those keeping tabs, that means GM China will launch 20 new electrified vehicles by 2023.
The aggressive electrification plan is being partially driven by China’s upcoming stringent quota system. Basically the Chinese government is setting benchmark production numbers for alternative energy vehicles; automakers must continually meet these quotas. The quotas will rise significantly next year.
During his remarks, Tsien also confirmed GM does not have plans to capitalize on China’s April announcement that it will ease foreign ownership restrictions on automakers. The company plans to continue leveraging joint-venture partners in the country.