The Chinese government is heavily subsidizing electromobility. But consumers in the world's largest car market are not taking the bait. Just 2 percent of Chinese motorists own an electric car.
The head of the world's biggest carmaker Volkswagen has issued an unprecedented call to end tax breaks for diesel fuel in Germany, saying the technology must make way for cleaner ways of driving.
German carmaker Volkswagen has said it will boost its investment in electric vehicles in China together with its joint ventures on the ground. The announcement came as the Asian nation set stringent production quotas.
The luxury electric carmaker reportedly has reached an agreement with China to build a production facility in Shanghai's free-trade zone, potentially giving Tesla a unique edge in the world's largest e-car market.
China has set a 2019 deadline for global carmakers to meet new quotas for so-called New Energy Vehicles (NEVs), meaning their annual sales in China must hit a specific threshold of electric cars or plug-in hybrids.
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