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China plans to ban new combustion engine vehicle manufacturers

July 5, 2018

New draft regulation on auto investment by the National Development and Reform Commission (NDRC) has revealed China’s plan to ban new manufacturers of fossil-fuelled vehicles.

The NDRC’s proposals will also see existing automakers encouraged to increase investment in the development of new energy vehicles.

The key message of the regulation is to maintain concentration on vehicle and power battery manufacturing. This will also help new energy vehicle makers enter the Chinese market, according to the analysis of China Merchants Securities.

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