Bankruptcies and slowdown hang over China’s electric car market
EV start-ups face elimination as Beijing slams brakes on sales with subsidy cuts
https://www.ft.com/content/1ed039c8-7e14-11e9-81d2-f785092ab560
“When China opened up the passenger vehicle market, there were 500 local start ups,” said WM Motor founder Freeman Shen. “It turns out only a few of them became giants . . . Most of them went bankrupt. I think EV start-ups will follow that pattern.”
With subsidies slashed 457 EV manufacturers in China are forecast to become just 20/40, as in typical Dragon bubble bloodbath pending.
With very steep H2 sales to match, and Tesla cleared Mod3 B/O's, global EV sales may struggle to finish much over 2018:
https://insideevs.com/news/357565/ev-sales-scorecard-june-2019/
Ann: Quarterly Activities Report, page-6
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