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New Era Newspaper Thursday April 26, 2018

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12 ADVERT Thursday, April 26 2018 | NEW ERA WEATHERMEN & CO

Thursday, April 26 2018 | NEW ERA 13 Global carmakers show off SUVs, electrics as China promises reforms Photo: Nampa/AFP Global carmakers touted their latest electric and SUV models in Beijing on Wednesday, as China promises world’s largest auto market where domestic vehicles are making major inroads. Industry behemoths like Volkswagen, Daimler, Toyota, Nissan, Ford and others are displaying more than 1,000 models and dozens of concept cars at the Beijing auto show. Thousands of Chinese auto enthusiasts are expected to wander the halls of the mega exhibition centre this week, with electric cars and gas-guzzling sport-utility vehicles grabbing the spotlight. in China electric car produced for Chinese consumers, the four-door Sylphy Zero Emission, with a drive range of 338 kilometres. “The new Sylphy Zero Emission is the next step in our performance officer, adding that the company will unveil 20 Auto executives may have their minds on the boiling trade war between Beijing and Washington, with every twist and turn fanning fears that it could bring their plans for China to a screeching halt. But last week Beijing announced it will liberalise foreign ownership limits in the sector, a move seen as a possible olive branch to President Donald Trump, who has railed against China’s policies in the sector. China currently restricts 50 percent ownership of joint ventures with local companies. The changes will end shareholding limits for new this year, followed by commercial vehicles in 2020 and passenger cars in 2022. Foreign automakers who account for more than half of vehicle sales in China have cautiously welcomed the changes, local partners in their joint ventures. “This will have no impact on our JVs. But the overreaching principle is important. Hopefully, liberalisation will as well help for fair competition, and having Heizmann, CEO of Volkswagen Group China, told reporters. The show comes as China’s market hits a transition period -- the explosive growth in car sales seen over the last decade slowed last year and data from early this year point to a continued slump for many vehicle types. Chinese consumers are following their American peers toward SUVs while policymakers in Beijing push an all-electric future. Ride-sharing is also on the up. On Tuesday Didi -- China’s answer to Uber -- announced it had joined forces with some 30 partners, including Renault and Volkswagen, to develop vehicles for ride-sharing. Accounting for some 28.9 million car sales last year, the Chinese market could soon match those of the European Union and United States combined. four million cars here last year, more than in the United States. Volkswagen sold more than three million, roughly six times its home market. But domestic firms are SUV segment. In the electric car market the as Beijing has heaped money on projects to dominate what it sees as the future. At the auto show, the domestic upstarts have a separate exhibition hall mostly to themselves -- 124 of the 174 electric car models on display are homegrown. Government subsidies help consumers purchase the green cars, while policymakers are planning a quota system to force producers to build electric vehicles, with plans to one day phase out gas vehicles altogether. Volkswagen announced Tuesday investments of 15 billion euros ( billion) in electric and autonomous vehicles in China by 2022. recently installed chief executive Herbert Diess said at a Beijing press conference, with its market for electric cars. - Nampa/AFP

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New Era Newspaper Vol 22 No 167

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