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China vows action against ‘blind’ electric vehicle growth

June 15, 2018

Via: Reuters

China is aggressively pushing the new energy vehicle (NEV) sector as it tries to not only cut air pollution from traditional combustion engines but also boost China’s high-tech clout.

But experts have warned the sector is facing overcapacity risks, with as many as 102 firms producing 355 different kinds of electric, hybrid and fuel cell vehicles by the end of March, according to industry ministry data.

Meng Wei, spokeswoman with the National Development and Reform Commission (NDRC), told reporters at a briefing in Beijing that China will adjust industry entry thresholds, strengthen corporate responsibility and improve government supervision to help bring order to the sector.

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