|Day's Range||36,050.00 - 36,550.00|
|52 Week Range||33,800.00 - 45,100.00|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
HAMBURG/SHANGHAI, July 14(Reuters) - Global automakers have urged China to delay and soften planned quotas for sales of electric and hybrid cars, saying its proposals will be impossible to meet and would severely disrupt their businesses, according to a letter seen by Reuters. The June 18 letter addressed to the head of China's Ministry of Industry and Information Technology, is the most cohesive pushback yet from the industry against ambitious targets for so-called new energy vehicles in the world's biggest auto market.
Global automakers have urged China to delay and soften planned quotas for sales of electric and hybrid cars, saying the current proposals are impossible to meet and would cause big disruption to their businesses, according to a letter seen by Reuters. The letter, dated June 18 and addressed to China's Minister of Industry and Information Technology, Miao Wei, amounts to a protest against key elements of the country's new energy vehicles (NEVs) policy.
The world's four biggest automotive industry associations have written to China's government to demand it change its plans for strict sales quotas for electrically powered vehicles, German weekly magazine WirtschaftsWoche reported, citing the letter. The associations, based in Europe, the United States, Japan and South Korea and representing around 70 percent of global car production, also called for the quotas to be postponed by at least one to three years, the magazine said on Thursday. China last month upheld the sales quotas for electric cars in draft regulation, ignoring concessions that had been agreed between Chinese Premier Li Keqiang and German Chancellor Angela Merkel.