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Changan to Phase Out Piston-Only Vehicles by 2025
China's Chongqing Changan Automobile Co. says it will invest 100 billion yuan ($15.1 billion) in “new energy” vehicles and phase out piston-only models by 2025.
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China's Chongqing Changan Automobile Co. says it will invest 100 billion yuan ($15.1 billion) in “new energy” vehicles and phase out piston-only models by 2025.
The plan calls for launching 21 electric cars and 12 plug-in hybrids over this time. The investment also will go toward developing and producing EV batteries and building a charging infrastructure.
Analysts expect that other Chinese carmakers will make similar announcements in coming months to help meet pending fuel economy and emissions regulations. The proposed rules would require a quick conversion to electrified vehicles.
Changan sold 35,000 hybrid and full electric vehicles through September, up 150% from the same period last year. In addition to its own vehicles, Changan operates a joint venture in China with Ford Motor Co. The company also produces electric generators and motors.
Changan is part of a new energy investment group led by internet and tech giant Baidu Inc. That alliance, which supports Baidu’s Apollo self-driving car platform and other emerging technologies, includes more than 50 carmakers, suppliers, universities and startup companies.
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