China's electric vehicle industry taking off, but bubble could burst
Despite market's huge potential, challenges include sustainability of the economic model
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Beijing
CHINA's electric vehicle (EV) industry is taking off on the back of a healthy car market and strong government support, but many challenges remain for the market to fully mature and consolidations are expected, analysts said.
The EV market grew 8 per cent last year, according to figures published by China Association of Automobile Manufacturers, and it is expected to soar by 40 per cent in 2021 as China's economy stabilises.
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