China’s Chongqing Changan Automobile Co will stop selling fossil-fuel-based cars by 2025 and is looking to invest as much as $15 billion in a new electric vehicle range. The line-up is set to include a dozen plug-in hybrid models and more than 20 pure EVs.
State-owned Changan is one of China’s Big Four automakers and can boast joint ventures with Ford, PSA, Mazda and Suzuki to manufacture branded cars for the Chinese market. The company sold just 4,900 alternative fuel vehicles last year.
The government has mandated that all domestic and foreign automakers in China have to start building EVs and/or hybrids by 2019.