The Japanese firm is set to launch a company that will explore the growing electronic vehicle market.
The subsidy cuts will begin with 30 percent at the beginning of the year and all will be scrapped completely by year's end in response to booming sales.
"We will make our entire fleet CO2 neutral by 2050 at the latest," says senior official of German carmaker.
Jaguar Land Rover aims to achieve net zero carbon emissions across its supply chain, products and operations by 2039.
In 2020, electric vehicle sales in the Nordic country accounted for 54.3 percent of the new car market, up from 42.4 percent in 2019, new data shows.
Prototype models of the Togg vehicle were unveiled by Turkish President Recep Tayyip Erdogan last year with full production set to produce consumer versions in the coming years.
French car plants are only just starting to rev up production after the coronavirus lockdown, which hit the auto sector badly,
The step amounts to a victory for electric cars that if copied globally could hit the wealth of oil producers, as well as transform the car industry and one of the icons of 20th Century capitalism: the automobile itself.
Despite an investment on clean technology, China continues to battle poor air and water quality as one of the world's most polluted nations.
The country's economy minister has warned that carmakers in Europe's powerhouse economy needed to invest billions in electric car technology to avoid losing out to Asian competitors.
The sale of new hybrid vehicles that have an electric motor combined with a petrol or diesel engine would also end as part of a plan to clean up air pollution.
Volkswagen proposed spending $120 million on more than 400 highways and community EV charging stations by 2019 to atone for secretly installing software in diesel vehicles that allowed them to emit excess pollution.
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