Chinese electric car startups mull alliance to save money, time

Beijing

A HANDFUL of China's many electric vehicle (EV) startups are considering setting up an alliance to pool resources, develop joint technology and bring cars more quickly to the world's biggest vehicle market.

In a sign that the country's fledgling EV industry is already consolidating as rules get tougher and competition fiercer, Shen Haiyin, co-founder and chief executive of Singulato Motors, said his company and four others - CHJ Automotive, Hongxing Automobile Manufacturing Co, Aiways and WM Motor - have discussed an alliance for months.