BEIJING -- State-owned China Changan Automobile Industry (Group) will end sales of traditional gasoline and diesel vehicles under its brand in 2025, positioning itself to thrive under a potential government ban on combustion-engine cars.
The move is part of the Shangri-La plan for so-called new-energy vehicles -- mainly electric cars and plug-in hybrids -- announced by listed subsidiary Chongqing Changan Automobile in a news conference here Thursday. The automaker intends to invest 100 billion yuan ($15.1 billion) by 2025 in developing new-energy vehicles, employing 10,000 research and development staffers worldwide.
