Signs of Deflation in China’s Electric Vehicle Market
The biggest market for electric vehicles in the world is moving past its initial stages of being overcrowded. China’s explosives industry, which more than a decade ago was crammed with government subsidies, now includes about a hundred manufacturers producing purely electric and rechargeable hybrid models. Although the number is less than the approximately 500 registered electric vehicle manufacturers in 2019, the end now seems to be in sight for more. The peak market moved from formally overcrowded to moderately concentrated in the first quarter. This was based on the Herfindahl-Hirschman…
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