29 Aug '16, 12pm
New Government Rules Could Wipe Out Most Chinese Electric Car Startups
Today in China, every refrigerator manufacturer, moped maker, and backyard tinkerer is jumping into the electric vehicle game. A lot of that frenzy of enthusiasm is fueled by generous government incentives that make “new energy vehicles” affordable for the masses. Those incentives can amount to as much as 60% of the sticker price of a new energy car, which has sparked a huge demand from the public. Right now in China, more than 4000 new models of electric cars are under development. Many of those small companies have no experience building automobiles. Their cars are shoddily made and service after the sale is non-existent.