Gas-burning cars gone from China by 2030? – China’s latest business and technology news

Business & Technology

A summary of the top news in Chinese business and technology for September 21, 2017. Part of the daily SupChina newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.

Reuters reports that Wang Chuanfu 王传福, chairman of BYD — China’s most established electric carmaker and, famously, recipient of investment from Warren Buffet — spoke at an event in Shenzhen on September 21. He said that all vehicles in China will be electrified by 2030:

“We are very confident about all the timetables (to eliminate fossil fuel cars) and we think it will happen earlier than expected.”

Other auto news:

  • Baidu, one of China’s search engine giants and also one of the country’s leading players in artificial intelligence (AI), has launched a “10 billion yuan ($1.52 billion) autonomous driving fund,” according to Reuters. The fund will invest in 100 self-driving car projects over the next three years.
  • The China Daily reports that the customs office in south China’s Guangdong Province said they had seized smuggled auto parts “valued at 1.67 billion yuan ($253 million)” in a raid in September 20. The smugglers were “found to have avoided paying tariffs since 2012 on accessories for luxury car brands, including Land Rover and Volvo, by listing them as ordinary low cost goods or personal delivery parcels.”