You are here: Home » International » News » Economy
Business Standard

China to remove roadblock for foreign car firms, to drop cap on EV ventures

China will also scrap limits on foreign ownership in the shipbuilding and aircraft industries in 2018, the National Development and Reform Commission (NDRC) said

Reuters  |  Beijing/Shanghai 

China will scrap a limit on foreign ownership of automotive ventures by 2022 in a major policy shift to open up the world's biggest car market, even as trade tensions simmer between Washington and Beijing. In a move welcomed by Germany's powerful car industry, China's state planner said on Tuesday it would remove foreign ownership caps for companies making fully electric and plug-in hybrid vehicles in 2018, for makers of commercial vehicles in 2020, and the wider car market by 2022. China imposed ownership restrictions in 1994, limiting foreign carmakers to owning no ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, April 17 2018. 21:30 IST
RECOMMENDED FOR YOU