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“The green diesel engine will help the Chinese auto industry to solve pollution and energy efficiency issues. We hope it can be promoted in China.†Honeywell Chairman and Chief Executive Officer Goodwin signed an environmental understanding with the China Environmental Protection Federation and the China Daily News yesterday. The memorandum pointed out that as the world's leading manufacturing company, Honeywell will provide Chinese customers with green products and solutions to encourage the use of clean energy.
Gao Dewei said that the significant fuel economy and low pollution emissions of diesel engines have made it possible for Europe to establish its position in the diesel engine market. More than 50% of new passenger cars in the European Union are diesel vehicles. France, Italy, and Germany have respectively accounted for 72%, 66%, and 43% of the car market share. The U.S. government stipulates that anyone who purchases a diesel car can receive a tax return of up to 3,400 U.S. dollars, that is, enjoy the same policy preferences as hybrid cars, as an incentive to promote the development of diesel cars.
According to statistics, at present, China's diesel vehicles account for 23.7% of the total car ownership, and only 0.2% of the car's inventory. Honeywell’s total sales in China last year were US$510 million. Honeywell is still eager for the huge Chinese market compared to the company’s global sales of US$28 billion. Under the impetus of China's vigorous development of energy-saving and environmental protection society, Honeywell hopes to use the "green diesel engine" to further open the Chinese manufacturing market.