China wants to become green, and recent moves leave no doubt about it. Solar power installations have multiplied, while total investment in renewable energies is set to reach $360 billion. The latest news suggests the government is considering a general ban on the sale and production of internal combustion engine vehicles, favoring electric and hybrid models. Other countries have made similar announcements, but China has the largest automotive market on the planet...
Slowly, the world's major powers (with a certain exception we all know) are recognizing the seriousness of pollution and climate change. Fossil fuels have served us well and will continue to do so for several more years, but we are approaching a point where their negative effects outweigh their benefits, and we must not forget the economic factor. The costs of solar and wind energy have plummeted, accelerating the development of new large-scale projects. However, the potential is much greater when the environment becomes state policy. While we have seen egregious mistakes (such as the sun tax in Spain or the changes in Nevada that are about to be annulled), there are also compelling positive examples. The United Kingdom and France want to block sales of internal combustion engine vehicles before 2040, while India plans to do the same in 2030. Who is thinking of joining that group? China.
According to Xin Guobin, Vice Minister of Industry and Information Technology, work has already begun on a program to implement the ban on the production and sales of internal combustion engine vehicles, and it would be activated in the near future, although the exact date has not been disclosed. The official added that these measures will initiate profound changes in the environment and give new impetus to the development of the Chinese automotive market, without forgetting to mention that companies will need to optimize energy savings in the manufacture of traditional cars and create vehicles based on new energies.
Statistics indicate that China sold more than 28 million units last year, but the combination of electric and hybrid reached 500,000, an increase of 50 percent compared to 2015. Some big names have presented specific plans for China, such as Volvo, which will launch its first electric vehicle there in 2019. Naturally, Xin Guobin's announcement caused shares of electric car manufacturers in China to soar.
