Global vehicle sales grew by 3.4% between January and April 2018 to 28.8 million units. The data for 53 markets from JATO (around 90% of the global total) indicates that the growth pace continues thanks to the positive economic indicators and good mood among consumers in most of the key markets. Even if almost two in three of the vehicles were sold in China, USA and Europe, most of the growth was driven by emerging countries like India, Brazil and Russia. All three of these m
BEIJING -- China unveiled late Thursday a long-anticipated easing of foreign investment curbs in the auto industry and other key sectors as Beijing moves to open its markets further. China's National Development and Reform Commission published on its website a new version of the so-called negative list, which sets out industries where foreign investment is limited or prohibited, that will take effect July 28. In addition to confirming already announced pledges to fully remove
The number of electric vehicles on roads worldwide rose to a record high of 3.1 million in 2017, but more research, policies and incentives are needed to drive further adoption, the International Energy Agency said.
The number of electric cars, including battery-electric, plug-in hybrid and fuel cell electric passenger light-duty vehicles, increased by 57 percent compared with 2016, the IEA said in a report.
China accounted for 40 percent of the global total last year.
China will end foreign ownership caps on local auto companies by 2022 and will remove restrictions on new-energy vehicle ventures this year, a major shift that will open the market wider to carmakers such as Nissan and Tesla. The country will remove limits on companies making full electric and plug-in hybrid vehicles in 2018, commercial-vehicle companies in 2020 and the wider passenger vehicle market by 2022, China's state planner said in a statement. The move, which comes am
China is both the most-polluting nation on Earth and, at the same time, its biggest producer of “clean” energy. That’s the paradox of this “factory of the world”, which decided several years ago to take on the energy challengeand gradually reduce its use of coal in favor of hydroelectric, wind, solar and nuclear power. China’s Vice Premier Zhang Gaoli and International Energy Agency Executive Director Fatih Birol met in December, when Birol visited Beijing to discuss China’s
BEIJING (Reuters) - Renault and Brilliance China Automotive Holdings Ltd have formed a joint venture to design and manufacture light commercial vehicles (LCVs) in China, with an aim to sell 150,000 such vehicles a year by 2022, the two firms reported. The venture, Renault-Brilliance-Jinbei Automotive Co, will have manufacturing operations in Shenyang, the provincial capital of Liaoning, they said in a joint statement. It plans to produce and sell multi-purpose vans and commer