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China's state planner approved tougher new regulations on investment in the auto industry, a draft of which spooked automakers earlier this year, as it tightens the screws on companies adding manufacturing capacity. The National Development and Reform Commission also said it would ban the establishment of new independent enterprises that make only traditional combustion engines, amid the country's wider push toward new-energy vehicles.
Renault signed a deal with Jingling Motors Electric Vehicle Co. to acquire a major stake in the EV subsidiary of Chinese automaker Jiangling Motors Group. The deal for "a significant stake" in JMEV will help Renault expand its presence in China¡¯s electric vehicle market, the French automaker said Thursday.
China is considering plans to delay some targets in its strategy to dominate high-end technologies and to put more focus on shaping industry standards, two people familiar with the matter told Bloomberg.
As tightening emissions rules in China and elsewhere force the auto industry to embrace battery power, a German startup says it has the technology to give the combustion engine a reprieve. Using pulsed microwaves to ignite fuel rather than spark plugs or glow plugs, MWI Micro Wave Ignition engineers say they can cut consumption of gasoline and diesel by as much as 30 percent, and emissions by as much as 80 percent. The company has begun talks with large automakers from South Korea and China, Bloomberg reported.