China Embraces Hybrid Cars in Pivot From Plug-in Only Path
- Government wants one fourth of vehicles to be hybrid by 2030
- Marks first ‘clear target’ to develop hybrids without plugs
The Toyota Levin hybrid.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s government is pivoting after years of promoting plug-in vehicles, elevating the importance of conventional hybrids and setting its first sales targets for the segment in a move that could benefit Toyota Motor Corp. and suppliers like Hunan Corun New Energy Co.
The government wants one in four vehicles to be plug-less hybrids that run on both gasoline and electricity by 2030, according to a transcript of comments made Wednesday by Ouyang Minggao, who leads a group China’s auto industry regulator commissioned to set targets for energy-saving autos.