EnergyWatch

China vows to consolidate bloated electric vehicle industry

In an effort to tame what Beijing now sees as a surplus of "small and scattered" domestic electric car manufacturers created in response to a decade of state encouragement, China now urges a wave of sector consolidation.

Photo: Aly Song/Reuters/Ritzau Scanpix

China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.

"Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now," Xiao Yaqing, the minister for industry and information technology, said at a press conference in Beijing on Monday.

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