On September 22, 2016, China’s Ministry of Industry and Information Technology (MIIT) proposed a Temporary Management Regulation for Corporate Average Fuel Consumption (CAFC) and New-Energy Vehicle (NEV) Credits for public comment. This proposal was rolled out in the context of the Chinese central government’s decision to phase out its decade-long subsidy program for NEVs in 2021. The proposal essentially would add a new NEV credit program to the existing corporate average fuel consumption (CAFÉ) regulation for passenger cars overseen by MIIT.