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Chinese-Swedish Auto Manufacturer Seals $12 Billion EV Deal

China’s National Modern Energy Holdings signed a contract worth $12 billion with Panda New Energy to deliver 150,000 EVs based on the Saab 9-3, as well aa associated products and services.

China Issues EV, New Energy Vehicle Mandate

Instituting another measure to reduce carbon emissions and toxic air quality, China’s national government is requiring that at least 30%, of new cars purchased by local government bodies, public institutions and publicly funded organizations’ between 2014-2016 be EVs or “new energy” vehicles.