Say goodbye to gasoline – China's going electric

China's auto industry plan released in April envisages new energy vehicles

China, one-third of the world's car market, is working on a timetable to end sales of fossil-fuel-based vehicles, the country's vice minister of industry and information technology, Xin Guobin, told an industry forum in Tianjin on Saturday. That would probably see the country join Norway, France and the UK in switching to a wholly electric fleet within the lifetime of most current drivers.

The announcement is important because the most influential players in the global auto market have always been not companies, but governments. Diesel cars make up about half of the market in the European Union and less than a percentage point in the US, largely because of different fuel-taxation and emissions regimes. Carburetors have been regulated out of most developed markets because fuel injection – originally a more costly technology -- results in less tailpipe pollution.