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China EV Overcapacity Fix Would Be A Crowd Pleaser

23 Jan 2024 | Abstracted from Reuters

China's "vice minister of industry and information technology ...pledged to reduce EV makers' overcapacity, saying... government will take "forceful measures to prevent superfluous projects."

"Excess capacity could be between 5 and 10 million vehicles per year, estimates...The challenge will be how to stem overcapacity without hurting the sector - seen as a technological and manufacturing bright spot for the otherwise grim Chinese economy."



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