With Germany in recession and Detroit reeling over ultra-cheap Chinese EVs, Beijing vows to crack down on ‘blind’ construction of new projects
China is making automakers around the world nervous. Its domestic carmakers—helped by generous state subsidies—are churning out alarmingly inexpensive electric vehicles at a relentless pace, saturating their home market and threatening EV manufacturers overseas. But they might be getting carried away, a high-ranking Chinese official suggested on Friday. Xin Guobin, vice-minister...
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