China formulates national smart car industry strategy

With the global auto industry leaning toward intelligent and electric vehicles, China will ban manufacture and sales of traditional energy cars.

The goal is to encourage development of new energy vehicles, subsidies of as much as half of the original price are available, but in the long term, such subsidies may lead to blind expansion by auto makers. Subsidies will gradually be reduced and a new energy credit policy introduced.

Read more here.

 


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