China Has ‘Too Many’ EV Firms and Wants Consolidation. What It Means for NIO and Tesla Stock.

China volition promote marketplace consolidation successful the electric-vehicle sector, an manufacture it has nurtured for years amid the breakneck maturation of greener transportation, the country’s manufacture and accusation exertion curate said Monday.

In summation to improving charging infrastructure and electric-vehicle mileage, China’s EV assemblage indispensable “embrace the market,” Xiao Yaqing said successful a property league Monday, translated by Chinese state-owned transmission CGTN. This volition let galore tiny and scattered firms to “concentrate their industrial...