China has made a recent announcement that a deadline will be set for the nation’s carmakers will have to stop selling cars that run exclusively on gasoline or diesel fuel. Other countries have announced similar plans, largely in part of the previous climate change conference in Paris. This change affects the world in both terms of the economy as well as the environment; China has the biggest car market in addition to the biggest and rapidly increasing growth going forward.
In addition to this deadline, China is also planning to pay royalties for intellectual property developed by a foreign company/partner, such as software and algorithms. This is a risk for many automakers: Partnering with China would allow for a massive market, but it would be at the cost of the intellectual property to a possible future competitor. Despite this, many car brands such as Volvo, Jaguar, Mercedes, and Volkswagen are aligning with China and announced that all vehicles they sell will be offered in electric-powered versions between 2020 and 2030.
I find it very intriguing how this event will play out in the future and how it will affect both the environment and automobile industry. The topic of electric cars is parallel to our generation’s lifestyle; more and more lactic cars have, and will, be seen on the streets as we grow older. While the economic side of the deadlines has been heavily discussed through China’s announcement, I believe that the environmental side effects will also be important to modern society, since climate change is such a hot topic is such a hot topic among many people. The world is waiting to see if a change initiated by a country as large and populated as China will have a major impact on the globe’s pollution and smog levels. As a promising mode of transportation for the future we might have to say goodbye to gas-powered cars faster than we think.