Automobile Industry: Industry and Gasoline Vehicles

automobile industry: The Ministry of Economy, Trade and Industry will shortly hold a meeting with experts and representatives from automakers for discussions on a policy of reducing the use of gasoline vehicles and other issues related to the industry, the sources said, adding that the government will consider including the new target in a carbon neutrality action plan that it hopes to draw up by the end of this year, according to The Japan Times. Japan has worked out a target of increasing the share of eco-friendly automobiles, such as hybrid and electric vehicles, to between 50% and 70% by 2030. The government aims to accelerate decarbonization in the automobile industry in a bid to realize Prime Minister Yoshihide Suga's goal of reducing the country's greenhouse gas emissions effectively to zero by 2050, sources said. ; The government plans to work harder to promote electric vehicles as well as hybrid vehicles, an area in which Japanese automakers have shown leadership. But the target is less ambitious than goals set by other countries. While Toyota Motor Corp. popularized hybrid vehicles with the Prius and the country's automakers are among the world's top producers in the segment, the domestic market for electrified vehicles has plateaued in recent years. A new vehicle market consisting of only hybrid and electric automobiles would be a significant shift, given they currently only make up about 29% of the country's 5.2 million new motor vehicle registrations, according to the Automobile Manufacturers Association. (news.financializer.com). As reported in the news.