EV Startups Better Bring Something New to The Party

A big part of the increase has come from China, where cities and provinces have heavily subsidized their own home-grown OEMs. The Chinese market is so big that puny automakers can find buyers even if they only offer mediocre products. There are now more than 50 car companies in China and the number is growing, even though the government’s stated goal is to reduce the number of OEMs.