China Has Too Many Mediocre Electric Carmakers, Researcher Says
- Government tasked research center with sector review
- Rush into new-energy vehicles has worsened overcapacity
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China’s electric-vehicle industry is plagued by too many small companies that lack the know-how to compete on the global stage, according to a government think-tank tasked with helping formulate automotive policy.
Despite having more than 200 manufacturers of new-energy passenger vehicles, buses and special-use vehicles, China still lags behind global leaders in terms of quality, reliability and key technology, said Wang Cheng, an official at the China Automotive Technology and Research Center. Battery suppliers similarly lack competitiveness, said Cheng, whose group was asked by the government to review the sector.