Economy

China studying when to ban sales of traditional fuel cars

China studying when to ban sales of traditional fuel cars”

China has begun studying when to ban the production and sale of cars using traditional fuels, the official Xinhua news agency reported, citing comments by the vice industry minister.

China's big electric vehicle push is about to get even bigger: The country is planning to end the sale of fossil fuel-powered vehicles entirely, with regulators working now on a timetable of when the ban will ultimately take effect, according to Bloomberg.

"Many countries have adjusted development strategies", said Xin, adding, "Some countries have worked out a timetable to stop production and sales of traditional-fuel vehicles".

"Those measures will certainly bring profound changes for our auto industry's development", Guobin told Xinhua, China's official news agency.

A ban on combustion-engine vehicles will help push both local and global automakers to shift toward EVs, a carrot-and-stick approach that could boost sales of energy-efficient cars and trucks and reduce air pollution while serving the strategic goal of cutting oil imports.

To encourage development of new energy vehicles, subsidies of as much as half of the original price are available, but in the long term, such subsidies may lead to blind expansion by auto makers, said Song Qiuling, a deputy section chief from the Ministry of Finance, at the forum.

Honda will introduce an electric vehicle to Chinese buyers in 2018, according to Honda China COO Yasuhide Mizuno, in cooperation with Chinese business entities Guangqi Honda and Dongfeng Honda, creating a new brand.

Internet entrepreneur William Li's Nio will start selling ES8, a crossover powered only with batteries, in mid-December.

The development is coming two months after the United Kingdom, like Germany, France, India, Norway and Netherlands, revealed plans to ban fuel-run cars, as part of efforts to reduce air pollution. The startup is working with state-owned Anhui Jianghuai Automobile Group, which also is in a venture with Volkswagen AG to introduce an electric SUV next year.



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