Move is part of Germany's efforts to cut carbon dioxide emissions by 80-95 percent.

The Germany auto industry in for some pretty big changes as a government official has told Bloomberg that all new cars registered in the country will need to have zero emissions by 2030.

The move is part of Germany's efforts to cut carbon dioxide emissions between 80-95 percent by 2050.  As Deputy Economy Minister Rainer Baake explained, cars typically have a 20-year lifespan so sales of gasoline and diesel-powered vehicles need to be drastically reduced over the course of the next 15 years.

Despite the push to cut CO2 emissions, the adoption rate of electric vehicles has been sluggish to say the least.  The government is working to change that and has announced plans to subside sales of hybrid and electric vehicles beginning later this year.  If the country's Environment Ministry is correct, the incentives could lead to approximately 500,000 electric vehicles being sold by 2020.

It seems unlikely that German automakers will completely eliminate petrol and diesel engines by 2030 but the Environment Ministry says emissions from transportation contribute a fifth of Germany's total carbon dioxide pollution. If the government has its way, Germany will reduce its CO2 emissions by 40 percent by 2020, compared to 1990 levels.

Source: Bloomberg