China’s multibillion-dollar electric car companies are heading for a make-or-break moment

China’s push to lead the global development of electric cars is nearing a moment of truth.

Two of the largest start-ups in the industry — both Chinese — launched new passenger vehicles in the last week. The announcements come with less than two years to go before Beijing’s subsidies are set to end, and as better-known brands such as Teslamove into the massive Chinese market.