Foreign automakers are in no rush to follow Beijing's plan to ramp up local output of EVs, but would rather take their time. Why? For the simple reason that they have gamed the government's carbon credit program.
Until recently, Li Shufu, chairman of Zhejiang Geely Holding Group, seemed determined to build a global automotive empire. Now it appears that's only part of the story.
Huang Ximing was once a Ford engineer in the United States. He's now banking on that background to help make his Bordrin Motor a survivor in China's hypercompetitive EV market.
Industry trade groups and market research firms have produced various theories to explain why the market suddenly ran out of steam. But a website tracking peer-to-peer lending in China has provided one plausible factor.
Automotive NewsJobs Board
Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that's vital to your business.
Sign up today to get the best of Automotive News delivered straight to your email inbox, free of charge. Choose your news – we'll deliver.