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Chinese EV-Makers Braced For Wave of Consolidation – FT

Despite some of China’s electric vehicle makers, such as BYD and Nio, being household names, hundreds more now face an uncertain future

Test cars by Evergrande are parked outside the Evergrande New Energy Vehicle (NEV)'s research center, in Shanghai, China October 6, 2021. Picture taken October 6, 2021. REUTERS/Yilei Sun/File photot
Test cars are parked outside the Evergrande New Energy Vehicle's research centre, in Shanghai, China in 2021. Photo: Reuters


A dive in auto sales in China is fuelling expectations of a wave of consolidations in the world’s largest car market and the loss of several smaller brands, the Financial Times reported.

There are approximately 50 domestic EV brands in the country producing pure-electric cars and plug-in hybrids, the report went on, but by 2030, “there will be between 10 and 12 major Chinese automakers operating on a large scale”, predicted UBS analyst Paul Gong.

BYD and Tesla China dominate the Chinese EV market with smaller players struggling to keep up. Singulato Motors and Levdeo were involved in bankruptcy proceedings in recent months, while Shanghai-based EV start-up Enovate suspended production in April.

Read the full story: The Financial Times


  • By Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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