NEV-Maker Boss Urges Beijing to Impose Floor on Price of NEV Credits

The head of a minor new-energy vehicle (NEV) startup has called on the Chinese authorities to set a floor on the price of NEV credits, as the rapidly increasing sales of the vehicles is pushing the price downward and putting pressure on electric-car makers’ balance sheets.

In a proposal submitted to the annual meeting of China’s top legislature, Zhejiang Hozon New Energy Automobile Co. Ltd.’s Chairman Fang Yunzhou said regulators should ensure that the price of a NEV credit doesn’t fall below 2,000 yuan each.