China Has ‘Too Many’ EV Companies. What It Means for NIO and Tesla Stock.

China will encourage market consolidation within the electric-vehicle sector, an trade it has nurtured for years amid the breakneck progress of greener transportation, the nation’s trade and knowledge expertise minister mentioned Monday.

Along with bettering charging infrastructure and electric-vehicle mileage, China’s EV sector should “embrace the market,” Xiao Yaqing mentioned in a press convention Monday, translated by Chinese language state-owned channel CGTN. This can permit many small and scattered corporations to “focus their industrial…