Hyperdrive
Shakeup Looms for China’s Electric-Vehicle Makers
- Deal spree tops $29 billion as China pushes for more NEVs
- Future mergers expected to include biggest state-owned makers
Photographer: AFP via Getty Images
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China’s breakneck push to lead the world in electric-vehicle adoption may cause collateral damage among the legion of domestic carmakers deemed superfluous to that mission.
A flurry of manufacturing and technology alliances plus an investment in Daimler AG by auto magnate Li Shufu valued at 7.3 billion euros ($9 billion) point to the urgency among Chinese carmakers to bulk up their new-energy vehicle businesses before the rules of the road change.