China's Chongqing Changan to stop selling combustion-engine cars from 2025

Reuters News
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Posted: Oct 19, 2017 4:17 AM

BEIJING (Reuters) - China's Chongqing Changan Automobile on Thursday said it would stop selling combustion-engine cars, starting 2025, and invest more than 100 billion yuan ($15.10 billion) by that time to advance its "new energy strategy".

China has set goals for electric and plug-in hybrid cars to make up at least a fifth of its auto sales by 2025 in a bid to combat air pollution and close a competitive gap between its newer domestic automakers and their global rivals.

Carmakers around the world are grappling with Beijing's plans to shift away from petrol engine cars to newer, less polluting technologies - a trend that is creating one of the most seismic shifts the automotive industry has gone through.

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(Reporting by Pei Li and Adam Jourdan; Editing by Himani Sarkar)