Chang'an Auto to stop sales of fossil fuel cars by 2025

Updated: Thu, Oct 19, 2017
06:19 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED

Chinese automaker Chang'an Auto today announced it would stop selling traditional fossil fuel cars by 2025 and fully be engaged in new energy cars.

In a plan announced today, it will spend 100 billion yuan (USD 15 billion) and mobilize 10,000 R&D workers by 2025 to develop quality new energy vehicles.

The company also released three new electric models the CS15EV, EADO PHEV and New EADO EV300 today.

Chang'an Auto will have 21 new pure electric vehicle models and 12 plug-in hybrid electric vehicles by 2025. The company sold more than 3 million vehicles last year, state-run Xinhua news agency reported.

China is working on a national strategy on smart cars, and considering banning production and sale of fossil fuel cars, according to policy makers attending a forum on automotive industry development last month.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.