Report: Reform UK plans £100M yearly tax cut for crypto investors
Reform UK's proposed tax cuts for crypto investors could save high-rate payers over £100M annually, according to reports. The plan follows £72M donations from…
China requires mass self-driving vehicle rollout by 2030, with new energy vehicle sales targets and industry consolidation.
China has imposed a 2030 deadline for the widespread deployment of autonomous vehicles, giving its car manufacturers a government-backed schedule that Western competitors must now try to meet.
On Friday, the Ministry of Industry and Information Technology released the plan alongside eight other government departments. It addresses the nation's upcoming five-year economic cycle.
By 2030, self-driving cars should achieve broad commercial deployment. Highly automated systems must also be capable of operating on highways, urban express routes, and certain city roads.
Beijing expects those systems to surpass human drivers in safety by a considerable margin. As a result, the plan extends beyond just deployment into areas such as liability, insurance, and public acceptance.
The initiative also lays out specific numerical targets. Passenger cars are required to achieve an average fuel consumption of 3.3 liters per 100 kilometers, while battery-electric vehicles aim for roughly 11.5 kilowatt-hours over the same distance.
China already plays a role in crafting global regulations. It took the lead in drafting the world's first international technical rule for automated driving systems, which regulators adopted in June. At the same time, the plan calls for a stronger influence over international standards by 2030, mirroring Beijing's broader use of export controls as a strategic tool.
New energy vehicles must account for 70% of new passenger car sales by 2030, and 40% of commercial vehicle sales. In August, they already represented 60.6% of the market.
Still, Beijing is also pushing for a smaller number of players. For the first time, an automotive plan includes capacity warning measures and controls. It encourages mergers and cross-province consolidation, following capacity utilization that dipped to near 70% in the first quarter.
The plan targets several Chinese carmakers for spots among the global top 10 in sales. Suppliers face a similar demand, with the plan calling for Chinese parts manufacturers to rank among the global top 100. Labor productivity is expected to rise by 15% compared with 2025 levels.
Meanwhile, Tesla continues to absorb investor uncertainty regarding its full self-driving progress while its competitors gain a five-year government mandate.
Chinese robotics companies employed similar state backing to enter public markets this year, fueling an embodied AI surge in Shanghai. The next five years will reveal whether the same approach works on the roads.
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