China tightens grip on its electric vehicle market
Authorities have cracked down on firms making substandard products and gaming subsidy schemes; there are new rules for firms applying for a licence to make all-electric cars
Guangzhou
AFTER paying out billions of dollars in subsidies to promote greener cars - and creating a gold-rush among unknown start-ups - China is tightening its grip on the world's biggest electric vehicle (EV) market to weed out weaker domestic firms.
But some leading local EV makers are, for now, ignoring calls to apply for costly manufacturing licences, preferring to invest in design and technology innovation.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Air China to buy 100 locally made C919 jets in US$11 billion deal
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter