China vows to consolidate bloated electric vehicle industry
In an effort to tame what Beijing now sees as a surplus of "small and scattered" domestic electric car manufacturers created in response to a decade of state encouragement, China now urges a wave of sector consolidation.
BY BLOOMBERG NEWS
China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.
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