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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Leadership

France to Ban Sale of Gas Vehicles by 2040

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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July 6, 2017, 10:09 AM ET

The days of fossil fuel-burning vehicles in France are coming to an end.

France’s environmental minister Nicolas Hulot announced Thursday the country would end “the sale of all petrol and diesel vehicles by 2040.”

It’s part of an ongoing push by French President Emmanuel Macron to make the country carbon neutral by 2050. To encourage drivers to make the switch early, Hulot said France will begin offering them “a [financial incentive] to replace their diesel car dating before 1997 or petrol from before 2001 by a new or second-hand vehicle.”

The announcement follows Volvo’s announcement on Wednesday that it planned to cease making gas-powered cars and trucks and would instead only make electronic and hybrid vehicles starting in 2019. (It’s unclear if Hulot’s statement would impact hybrid cars, which rely partially on fossil fuels.)

France is the latest country to announce plans to eliminate fossil fuel propelled vehicles, but it’s hardly alone. Norway plans to ban the vehicles by 2025, while Germany hopes to end the sale of combustion-engine vehicles by 2030.

The announcement by France just over a month after President Donald Trump pulled the U.S. out of the Paris Climate Agreement.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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