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China Plans Gas, Diesel Vehicle Ban

The Chinese government is looking into when it may cease the production and sale of traditionally-fuelled cars and switch to only making electric vehicles.

The official news agency Xinhua reports that Xin Guobin, vice-minister of industry and information technology, announced the plans over the weekend, saying these measures will profoundly change the manufacturing sector.

As well as moving to satisfy the demands of changing markets, Germany wants to ban sales of such vehicles by 2030, while the UK and France have pledged to to do the same by 2040. The new measures also form part of China's strategy to cut carbon emissions.

The People's Republic is the world's biggest producer of CO2, and by 2030 aims to have cut emissions per unit of GDP to at least 60 percent of 2005 levels.

The news has already seen share prices in electric car manufacturer BYD climb, as did shares in lithium battery makers Jiangxi Ganfeng Lithium Co Ltd.

Related

Earlier in the year, Tesla Motors and Ford revealed that they were in talks with the Chinese government about building new cars there. Chinese law requires foreign companies wanting to set up shop in the country to partner with an existing Chinese firm, which will own no more than 50 per cent of the company.

Volvo Cars, owned by Chinese multinational Geely, announced in July that it would only be making electric vehicles from 2019.

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