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Beijing wants ‘bigger and stronger’ e-car firms

China wants to consolidate its own e-car industry and bring out “bigger and stronger” companies in the field. “We currently have too many EV companies in the market,” Minister of Industry and IT Xiao Yaqing said at a press conference yesterday. The companies are mostly small at present, and the government supports mergers and restructuring in the EV sector, Xiao said, according to Bloomberg. There are currently about 300 EV companies in China. The government is working on measures to reduce overcapacity in the EV sector and concentrate resources on key production centers, he said.

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