[lbo-talk] China aims at electric car domination

[Marv Gandall]

The Chinese government is planning a complete phase out of gasoline and diesel vehicles by 2040, a move that follows an announced ban on sales of the internal combustion engine in France, Norway, and the UK over the same period. 

Unlike Europe, however, China is the world’s largest and fastest growing auto market, and the PRC’s accelerated turn to electric vehicles will be decisive. Besides giving Chinese firms a competitive edge in the global auto industry, it will hasten the switch to EV’s by US and European automakers looking to sell into the Chinese market, now their major source of growth. 

"Last year, total vehicle sales in China reached 28 million, up 13.7% from the previous year (while) n the U.S., 17.5 million vehicles were sold and growth remained nearly flat”, reports the LA Times.

See: http://www.latimes.com/business/autos/la-fi-hy-china-vehicles-20170911-story.html