China’s Petrol-Powered Car Ban Could Cripple The Oil Market

13 Sep 2017   China, Electric Cars

If China, the world’s largest new vehicle market with sales of 28.03 million units last year, were to ban gasoline and diesel vehicles in the market, the impact on petroleum would be huge. But how pervasive is the fossil-fuel ban in global markets key to new vehicle sales and petroleum consumption? During an automotive forum over the weekend in Tianjin, Xin Guobin , the vice minister of industry and information technology, said the government is working on a timetable to end production and sales of fossil-fuel powered vehicles. The national government has been headed in this direction for a few years, issuing generous “new energy vehicle” subsidies to automakers to build electric vehicles and for consumers to buy them. The subsidies are being cut back this year and the government is expected to adopt a zero-emission vehicle mandate similar to California’s where automakers would be mandated to manufacture a […]

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