China formulates national smart car industry strategy

It's been confirmed that China is working on a national strategy on smart cars, and mulls banning production and sales of fossil fuel cars.

China mulls banning production and sales of cars burning fossil fuel. [Photo: 163.com]

The world's biggest car producer and manufacturer produced and sold over 28 million vehicles in 2016.

China, also the largest producer and market for new energy vehicles, saw 500,000 of them built and sold last year.

Currently, there are over 1 million new energy vehicles on the road, accounting for half of the world total.

In June, a policy document was released for public opinion on fuel consumption control and new energy vehicle credits.

It required auto makers to meet a new energy credit ratio of 8% next year, and 12% in 2020.