Investors are pumping billions of dollars into China’s electric vehicle start-ups as they seek to turn out the next Tesla, creating a window of opportunity for Beijing to forge a national champion in the industry.
EV makers in the country have benefited from the glow of the nearly 900 per cent rally in Tesla’s stock price over the past year, as well as signs of recovery in the Chinese market, the world’s largest.
But some analysts fear the boom may be premature, pointing to bottlenecks in China’s charging infrastructure and a crowded market with intensifying competition from both the California-based EV company and traditional carmakers.
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