Gas-burning cars gone from China by 2030? – China’s latest business and technology news

Reuters reports that Wang Chuanfu 王传福, chairman of BYD — China’s most established electric carmaker and, famously, recipient of investment from Warren Buffet — spoke at an event in Shenzhen on September 21. He said that all vehicles in China will be electrified by 2030:

“We are very confident about all the timetables (to eliminate fossil fuel cars) and we think it will happen earlier than expected.”

• The Financial Times, however, poured a little cold water on Wang’s enthusiasm, writing (paywall) that “analysts described Mr Wang’s remarks as lobbying, and not reflective of realistic policy goals.”
• China’s current government goals are for electric and hybrid cars to comprise at least 20 percent of all auto sales by 2025.
• For more on electric cars, see these articles on The China Project: China electrifies global auto markets; Electric vehicles now 1.2 percent of car market in China; Another push for electric cars in China from the visible hand.

Other auto news:

• Baidu, one of China’s search engine giants and also one of the country’s leading players in artificial intelligence (AI), has launched a “10 billion yuan ($1.52 billion) autonomous driving fund,” according to Reuters. The fund will invest in 100 self-driving car projects over the next three years.
• The China Daily reports that the customs office in south China’s Guangdong Province said they had seized smuggled auto parts “valued at 1.67 billion yuan ($253 million)” in a raid in September 20. The smugglers were “found to have avoided paying tariffs since 2012 on accessories for luxury car brands, including Land Rover and Volvo, by listing them as ordinary low cost goods or personal delivery parcels.”

• On-demand bicycles
  Mobike lands in Washington D.C., their first U.S. city / TechNode
  How bike-sharing is scaling so fast and for free / TechinAsia
• Financial technology
  Digital technology boosts China’s inclusive finance strategy / Caixin
  Fintech consumer lender Qudian sees green in New York with IPO plan / Caixin
• High speed rail
  Bullet trains take aim at short-haul flights, as longer routes stay out of range / Caixin
• Australian dairy
  Cream of China’s dairy firms eyes Australian milk giant / Caixin
• Robots  
  Chinese robot dentist is first to fit implants in patient’s mouth without any human involvement / SCMP
  Race to make robots for China spurs ABB to double capacity / Bloomberg
• Financial crime
  Hackers use finance app to steal millions in only half a day / TechNode
• Renewable energy
  China ahead of schedule on construction of hydropower plant in Pakistan / SCMP
  With high-performance cells, China takes aim at high-end solar market / Reuters
• Financial risk
  Debt-laden Sunac may be due a stock-market reality check / Bloomberg
  Home loan rates for first-time buyers rise as Beijing tries to curb property market / SCMP
  Weakest China developers menaced by $38 billion in bond puts / Bloomberg
  China sees progress in campaign against financial speculation / Caixin