China Pushes to Ban Sale of Gasoline, Diesel Vehicles
Photo of Shanghai, China courtesy of Alex Needham via Wikimedia Commons.
China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles.
This will make the country the biggest market to make this move, and will accelerate the country’s electric car market, according to Bloomberg. The electric car market is led by companies including BYD Co. and BAIC Motor Corp.
Regulators are working on a timetable for the ban, according to Automotive News. China, following the U.K. and France, is the latest country to phase out vehicles using gasoline and diesel. The country has also set goals for EV and plug-in hybrid cars to make up at least a fifth of it’s light-vehicle sales by 2025.
The government also offers subsidies to automakers who produce new-energy vehicles, according to Automotive News.