Charging stations in Liuzhou, China.
Photographer: Future Publishing/Getty Images
New Energy
China's Cutthroat EV Market Is Squeezing Out Smaller Players
The cutthroat market formally transitioned from over-crowed to moderately concentrated in the first quarter
The world’s largest electric vehicle market is putting its crowded infancy stage behind it.
The explosive industry in China — supercharged by government subsidies more than a decade ago — now spans about a hundred manufacturers churning out pure-electric and plug-in hybrid models. While that’s down from roughly 500 registered EV makers in 2019, the end now looks to be in sight for scores more.