China says only electric cars will be on the road in 2040

China pushing for electric cars in major market shift  

China pushing for electric cars in major market shift  

China is the world's largest auto market, which gives every change in its policy a huge impact on the global industry.

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

Xin said the ministry had started research and will look to draw up a timeline with relevant departments.

Countries around the world are racing to phase out gasoline and diesel cars.

China has done considerably well to make the automobile manufacturers produce and sell new electric vehicles.

The largest auto market in the world might someday offer only electric and intelligent vehicles. Increased demand in China from a top-down ban would only add momentum to a worldwide explosion in electric vehicles. The country accounted for nearly a third of the cars that were manufactured previous year.

China is the world's largest auto market, with 28.03 million vehicles sold past year (a boost in demand of 13.7 percent when compared with the number of cars sold in 2015).

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Other countries have already announced bans on fossil fuel vehicles.

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

China joined France and the United Kingdom, announcing plans to end sales of gasoline and diesel cars, according to Associated Press.

Chinese auto companies including BYD, BAIC and Geely ranks among the top brands worldwide in terms of electric vehicle sales past year, according to the China Passenger vehicle Association.

China has already been proactive in encouraging the manufacturing of electric cars, with proposals to make one fifth of auto output electric by 2025 now on the table.

China has attempted a sharp pivot away from coal in recent years, banning imports at certain ports and suspending mine development in efforts to curtail pollution and potentially restructure its energy system.

A similar deadline has been given by France, leading some to predict that China would also opt for a 2040 cut-off point.

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