General Motors is planning to launch 10 electric and gasoline-electric hybrid cars by 2020 in China, the biggest market by number of electric cars sold.
The company will start production of an electric car model in China in about two years, Matt Tsien, president of GM China, told a conference during the Shanghai auto show. The company expects annual sales of 150,000 electric and hybrid cars in the country by 2020, reports the Associated Press.
"In the next several years, out to 2020, we expect to launch at least 10 new energy vehicles into the marketplace. We have a pipeline that is going to materialise, that's going to put us in a very good position from a fuel economy requirement perspective," said Tsien.
All vehicles will be manufactured in China.
"We have no concerns relative to amount of IP that has to be shared. We have a fairly clear understanding of what the rules of engagement are. For vehicles where General Motors owns the IP, we have had longstanding technology licensing agreements with our partner. Those work effectively," he said.
He said manufacturers will need to develop the vehicles to appeal to consumers. "The industry has to work very hard to educate customers with regard to the merits," he added.
Car makers such as Ford Motors, Volkswagen and Nissan have been working aggressively to sell electric vehicles in China.
The Chinese government has the most ambitious electric car goals, with regulators pushing foreign companies to help develop the electric vehicle industry.
Beijing is expected to implement most stringent emission standards. Auto executives say it may require all manufacturers to include electrics in their car lineup in order to meet the targets for average fleet emissions.
GM recently unveiled a hybrid version of Chevrolet Volt, which would be manufactured in China and sold under its Buick brand.