China may put 95 percent of its electric car startups out of business as the government mulls a plan to massively downsize the industry to 10 companies
There are more than 200 electric vehicle companies vying to get a foothold in the market, but only two have obtained approval to manufacture cars. “There are too many entrants in the sector, and some of them are just speculators,” says Yin Chengliang, a professor at Shanghai Jiao Tong University’s Institute of Automotive Engineering.
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May 26, 2017