30 Aug '16, 4am

Chinese Government Expected to Drive 95 Percent of PEV Startups Out Of The Market

Chinese Government Expected to Drive 95 Percent of PEV Startups Out Of The Market

While manufacturing plug-in electrified vehicles has become a hot business angle for Chinese-backed startups, about 90 percent of them may soon be out of the business. Inspired by generous government subsidies for “new-energy vehicles,” more than 200 startup companies backed by Chinese billionaires and other investors have entered the market. About 95 percent of these companies developing PEV platforms will see a shakeout as the government imposes stricter technology standards, according a report in The Economic Daily . The government is considering issuing only 10 permits to vehicle makers, Dong Yang, executive vice chairman of China Association of Automobile Manufacturers, told Bloomberg . The Ministry of Industry and Information Technology (MIIT) may restrict the number to 10. That won’t include traditional carmakers developing PEVs such as SAIC Motor Corp. and BYD Co.,...

Full article: http://www.hybridcars.com/chinese-government-expected-to-...

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