Nigeria In Trouble As China Seeks To Ban Petrol And Diesel Vehicles

12 September, 2017, 00:54 | Author: Barbara Daniel
  • China pushing for electric cars in major market shift  

A major outcome of this is reduction in the demand for oil in China, a country which is now the world's second-largest oil consumer after the United States. "The ministry has also started relevant research and will make such a timeline with relevant departments", said Xin Guobin vice minister of industry and information technology. Energy-saving and emission reduction requirements are increasing, the development of new-energy vehicles is becoming more technically demanding and intelligent vehicles are expected to have a profound effect on the industry.

China is planning to ban the production of diesel and petrol cars, a move which is of serious source of concern for Nigeria.

A lot of automakers are adapting to the shift away from fossil-fuel powered cars. A government plan for China's auto industry released in April calls for boosting sales of these vehicles from 500,000 past year to 7 million in 2025, almost double the previous target.

The "profound" changes Xin speaks of would certainly be a boon to the Chinese electric auto market, which has attracted foreigners like Elon Musk and Warren Buffet.

The official didn't specify when the ban would be implemented.

China, in an effort to meet its promise to cap carbon emissions by 2030, is the latest country to unveil plans to phase out vehicles that run on fossil fuels.

The decision will have a significant impact on Chinese oil demand. The South China Morning Post reported previous year that China's smog has been put on par with smoking as a threat to the health of residents there.

The Chinese government wants 5 million electric cars on the country's roads by 2020.

Large auto maker GAC Motor broke ground on a $6.5 billion electric vehicle park earlier this year.

Volvo will introduce its first 100-per cent electric auto in China in 2019, while Ford will market its first hybrid vehicle in early 2018.

General Motors, Volkswagen and Nissan have said they are launching or looking at joint ventures with Chinese partners to develop and manufacture electric vehicles in China.

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