The XPeng Inc. P7 Wing Limited Edition electric vehicle being charged at an XPeng dealership in Shanghai, China, on Monday, July 5, 2021. Photo: Bloomberg
The XPeng Inc. P7 Wing Limited Edition electric vehicle being charged at an XPeng dealership in Shanghai, China, on Monday, July 5, 2021. Photo: Bloomberg

Beijing once again urges consolidation in saturated electric car industry to avoid fragmentation and wasted resources

  • The world’s largest automotive market has more than 500 NEV assemblers that develop and build vehicles to compete against internal combustion engine makers
  • Sector has been gripped by an investment craze amid Beijing’s ambitions of achieving its carbon neutrality goal by 2060

The XPeng Inc. P7 Wing Limited Edition electric vehicle being charged at an XPeng dealership in Shanghai, China, on Monday, July 5, 2021. Photo: Bloomberg
The XPeng Inc. P7 Wing Limited Edition electric vehicle being charged at an XPeng dealership in Shanghai, China, on Monday, July 5, 2021. Photo: Bloomberg
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