Chinese-owned Volvo announced in July that every vehicle it makes from 2019 onward will have an electric motor.
This truly puts the traditional auto industry on notice. The latest is Honda which used the Tianjin forum to announce a China-exclusive electric vehicle.
"We may make significant headway in passenger cars by 2040 or even earlier, but for other products like heave-duty trucks it would be hard".
China's green energy initiatives are going into the fast lane.
China's vehicle market sustained its recent run of growth in August, continuing to expand after a weak start to the year brought about by a rise in China's auto-sales tax.
The largest auto market in the world might someday offer only electric and intelligent vehicles. It is also the world's biggest market for EVs, of which 500,000 were bought and sold in China a year ago, pushing the total number of EVs on Chinese roads past the one million mark.More news: Stephen King's 'It' Shatters Box Office Records On Release
According to a Bloomberg report, available here, https://www.bloomberg.com/news/articles/2017-09-10/china-s-fossil-fuel-deadline-shifts-focus-to-electric-car-race-j7fktx9z the world's biggest oil importer, China is looking to ban fossil-fueled cars in the country. The majority were made by Chinese firms.
Song Qiuling, a Senior Official from the Ministry of Finance, during Saturday's event warned that if government subsidies that are intended for scaling-up the electric vehicle industry are held for long, they could be abused leading to a "mindless expansion" and excess capacity in the sector.
The official didn't specify when the ban would be implemented. The new measures also form part of China's strategy to cut carbon emissions.
Volvo Cars, owned by China's Geely Holding Group, announced plans this year to make electric cars in China for global sale starting in 2019.
Christoph Ludewig, VW's communications director in China, declined to comment on Xin's announcement, but he noted that the company has a joint venture with JAC that will produce such cars by next year.
The Chinese government wants 5 million electric cars on the country's roads by 2020. "That's clear", Ludewig told AFP.
GM, Volkswagen, Ford, Daimler and many other automakers also have plans to beef up NEVs production. A move to electric cars is expected to help curb the impact.
Globally, 95% of electric cars are sold in only 10 countries: China, the U.S., Japan, Canada, Norway, the U.K., France, Germany, the Netherlands and Sweden. That is 0.04% of its 2.1 million vehicles sold in total in China during the seven months.