Six major carmakers agree to phase out fossil-fuel vehicles by 2040
A great opportunity for China. China supplies whatever the market wants. And they already make lots of good conventional cars. It looks like they will be getting a lot more orders for them
Six major automakers on Wednesday will commit to phasing out the production of fossil-fuel vehicles around the world by 2040, as part of global efforts to cut carbon emissions, the British government said in a statement.
But sources familiar with the pledge's contents said some big carmakers including the world's top two, Toyota Motor Corp and Volkswagen AG, and crucial car markets China, the United States and Germany have not signed up. That highlighted the challenges that remain in shifting to a zero-emission future.
Cars, trucks, ships, buses and planes account for about a quarter of all global carbon emissions, data from the International Energy Agency showed, of which the bulk comes from road vehicles.
Sweden's Volvo, U.S. automakers Ford Motor Co and General Motors Co , Daimler AG's Mercedes-Benz, China's BYD Co Ltd and Jaguar Land Rover, a unit of India's Tata Motors Ltd , were set to sign the pledge at climate talks in Glasgow, the latest initiative to help cap global warming by mid-century.
Volvo has already committed to going fully electric by 2030.
Britain, which is hosting the COP26 summit, said four new countries including New Zealand and Poland were joining other nations already committed to ensuring all new cars and vans are zero emission by 2040 or earlier.
The statement comes on a day dedicated to transport at the conference.