· Hundreds of car companies have stopped production due to fuel consumption

According to Reuters, China will stop producing 553 passenger car models on January 1, 2018, including cars, buses, multi-purpose passenger cars and some dual-purpose fuel cars.
More than 50 cars of BAIC, SAIC and Shenlong will be discontinued. The company that stopped production the most was BAIC, and nearly 90 models were involved. Other companies include FAW-Volkswagen, Beijing Benz, Chery and Dongfeng.
As the government's efforts to control pollution continue to strengthen, China has been promoting green transportation and curbing pollution by strengthening emission restrictions and encouraging the use of new energy vehicles.
The Ministry of Finance and other four ministries also issued a notice saying that from January 1, 2018 to December 31, 2020, the purchase of new energy vehicles will be exempted from vehicle purchase tax. This is a powerful boost to the development of the new energy automotive industry.

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