China eyes petrol car ban, boosting electric vehicles

China eyes petrol car ban, boosting electric vehiclesChina is gearing up to ban petrol and diesel cars, a move that would boost electric vehicles and shake up the world’s biggest car market in a country that is plagued by pollution. The government did not give a date for the ban, but the announcement drove up the shares of automakers and lithium battery makers in Asia, with Chinese electric car leader BYD closing 4.07 percent up in Shenzhen and Toyota up 1.22 percent in Tokyo. Xin Guobin, vice minister of industry and information technology, told a weekend forum in the northern city of Tianjin that his ministry has started “relevant research” and is working on a timetable for China.



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