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Aston Martin Says China Spurring Another Horse-to-Cars Moment

  • China’s move to reduce luxury tax to boost sales, CEO says
  • Luxury sportscar maker to sell 50 percent hybrids by mid-2020
China Reiterates Plan to Cut Car Tariffs Amid U.S. Trade Tension
Photographer: Qilai Shen/Bloomberg
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China’s policies to cut pollution is driving a rapid move toward electric vehicles in the world’s biggest market and causing an upheaval in the global auto industry, Aston Martin Holdings Ltd. Chief Executive Officer Andy Palmer said.

“This whole show is revolving around what they call new energy vehicles, but Chinese policy is very much driving the move towards electric cars and certainly Aston has to go with that flow,” Palmer told Bloomberg Television in an interview at the Beijing auto show on Wednesday. “We’re probably in the biggest change in the automotive industry since we moved from horse to car.”30