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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

here 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.
1 year ago
Sky Canaves
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.
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