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The scale of China’s EV program is mind boggling.
Two things stood out in this New York Times piece exploring the price wars in China resulting from EV overcapacity and excessive competition:
- Last year, 129 brands in China were selling cars that ran mainly or entirely on electricity.
- In each of the last five months, battery-powered and plug-in hybrid cars made up more than half of all cars sold.
Chinese manufacturers now export a fifth of their production, creating problems for manufacturers in the US and Europe.
Why China Is Trying to Tame Its Electric Car Frenzy
[New York Times]
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